Success Dragon narrows annual loss, revenue up 152pct

Hong Kong-listed Success Dragon International Holdings Ltd reported on Thursday a comprehensive loss of just below HKD1.95 million (US$248,396) for the 12 months ended March 31, versus a net loss of HKD2.53 million in the prior year.

The group recorded revenue of nearly HKD363.8 million for the financial year ended March 31, up 152.4 percent from the previous 12 months.

The company said in the filing to the Hong Kong Stock Exchange that it recorded a loss of HKD3.80 million from discontinued operations during the latest financial year.

The group had announced last year its decision to terminate the “provision of services on management of electronic gaming equipment in Macau”. The move was in “the best interests of the shareholders of the company,” it stated.

During the year to March 31, Success Dragon also decided “not to renew the money lending licence” in Hong Kong, it said.

Revenue generated from gaming-related services stood at HKD7.12 million in its latest financial year, down from HKD31.54 million in the previous year. The firm ceased operations in the segment at the end of June 2022.

The firm’s main source of revenue for the 12 months ended March 31 remained its gold processing and trading business in mainland China.

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