Gelonghui November 10th 丨Hing Lee Group (00114.HK) announced that the Group expects the net profit attributable to shareholders recorded for the six months ended September 30, 2023 to be within the range of HK$5 million to HK$10 million (for the six months ended September 30, 2022: net profit attributable to shareholders of HK$44 million). These changes are mainly due to the contraction of the consumption environment and the decline in customer demand as retailers cut inventory volumes.
The Group's overall order volume at the end of October 2023 was 50% lower than the same period in 2022. Furthermore, in an environment of uncertainty in the global economy, management is very concerned about the Group's performance in the second half of this fiscal year.