Tungtex (Holdings) (00518) said it reported a loss attributable to owners of HK$65.45 million for the year ended 31 March 2016, as compared to the profit of HK$198 million for the previous financial year.
Basic and diluted loss per share was HK15.5 cents.
The revenue was HK$1,047 million, a decrease of 18.4% from a year earlier.
Thanks to the structural streamlining, reorganization of internal business units, stringent cost control, efficiency enhancement and the increase of total sales to China market of higher gross margin, the Group managed to improve the gross profit margin to 21.6% from 20.1% of the last fiscal year.
No final dividend will be distributed.