Hao Tian cuts losses while pivoting to AI

Hao Tian International Construction Investment Group Limited reported a net loss of HK$199 million for the year ended March 31, down from HK$512 million previously, with revenue at HK$145 million.

The construction machinery rental and sales business declined 18.5% due to completed infrastructure projects. The group is pursuing AI opportunities including a joint venture for AI computing power and 5G big data services.

Total assets fell to HK$1,709 million from HK$2,388 million. The company will use HK$35.75 million from recent share placing for AI development.