Ruixin International Group(00724) releases 2024 annual results, loss reduced to approximately HKD 41.7 million

LootboxPhobia · 2026-03-01T15:20:45+00:00

Ruixin International Group announced that for the year ending December 31, 2024, there was no revenue, and losses decreased from HKD 74.9 million to HKD 41.7 million. The reduction in losses was mainly due to lower operating expenses, despite increased interest expenses. Weak global economic conditions and intensified competition affected the performance of its electronic products business.

LootboxPhobia

2026-03-01 15:20:45

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Zhitong Finance APP News, Ruixin International Group (00724) announced that for the year ending December 31, 2024 (“Reporting Period”), the group had no reported income, while the relevant period ending December 31, 2024 (“Relevant Period”) had approximately HKD 74 million. The loss during the reporting period decreased from about HKD 74.9 million to approximately HKD 41.7 million. The reduction in loss during the reporting period was mainly due to decreased operating expenses in the electronic products business, partially offset by increased estimated interest expenses on convertible notes and shareholder loans. Due to the weak global economic environment, global tariff protection issues, rising interest rates, rapid industry advancement, development, and intense competition, coupled with the group’s poor financial condition, the group’s electronic products business image and confidence among customers were further affected. As income significantly decreased, the cost of electronic products during the reporting period fell to basic operating costs, resulting in a reduction in operating losses compared to the relevant period.

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