Ruixin International Group (00724.HK): 2024 Annual Loss Reduced to HKD 41.7 million

Gelonghui March 1 — Rui Xin International Group (00724.HK) announced that for the year ending December 31, 2024 (“Reporting Period”), the group had no reported revenue, while for the same period (“Relevant Period”), revenue was 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, offset somewhat by increased estimated interest expenses from convertible stocks and shareholder loans. Due to the weak global economic environment, global tariff protection issues, rising interest rates, rapid industry advancement, development, and fierce competition, coupled with the group’s poor financial condition, the group’s image and confidence among customers in the electronic products business were further affected. As revenue significantly decreased, the cost of electronic products during the Reporting Period fell to basic operating costs, resulting in a reduction in operating loss compared to the Relevant Period.