Following a change in product mix, raw material and consumables used grew 26% to $2 million from $1.6 million a year ago due to higher cost of inventories, after the group discontinued its production of notebook and now solely produced wire, cable and related components.
SINGAPORE (May 9): Huan Hsin Holdings reported a loss of $2.6 million for 1Q18, widening from its loss of $2 million a year ago on the back of lower revenue and higher costs.
Revenue for the quarter fell 21% to $3.9 million from $4.9 million in 1Q17, which the group says was in line with its ongoing plan to shut down some of its loss-making plants – specifically the winding down of its manufacturing business in stages, with the shutdown of its facility in Suzhou in Jan this year
