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Ming Liang Holdings(08152) released its third quarter results for the nine months ended September 30, 2022. The group achieved revenue of HK$44.42 million during the period, a year-on-year decrease of 26.52%; loss attributable to shareholders was HK$15.544 million, an increase of 85.76% year-on-year; The basic loss of the stock was 2.59 HK cents.
According to the announcement, the decrease in revenue was due to a combination of factors, including a decrease in revenue from Hong Kong of approximately HK$5.4 million, mainly due to a decline in the business of the foundation segment; revenue from overseas markets decreased by approximately HK$8.2 million, which was due to Sales only started to recover in the third quarter and have yet to make up for the insignificant results in the first half of the year; continued uncertainty in the operating environment in China resulted in a further drop in revenue of approximately HK$2.5 million.
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