Success Dragon revenue up 152% for FY23

Success Dragon International Holdings has posted revenue of MOP375m (US$46m) for the year ended March 31.

Hong Kong.- Success Dragon International Holdings has announced its financial results for the fiscal year ending on March 31, 2023. The company has reported revenue of MOP375m (US$46m), up 152 per cent year-on-year. However, the company experienced a decrease in profit of 59.8 per cent.

The loss incurred from discontinued operations contributed to the profit decline. This involved the termination of management services for electronic gaming equipment in Macau and a money lending business in Hong Kong. 

The gaming-related service contracts in Macau expired in June 2022, and the company decided not to renew them. The stock filing stated that the decision was driven by continuous losses in that segment. The company also decided not to renew its money lending licence. As a result, Success Dragon International Holdings has fully shifted its business focus to the gold processing and trading industry. 

The company said it was taking a proactive approach in seeking new procurement and revenue channels in the mainland China gold processing market.