INTL GENIUS (00033) Announces Mid-Term Business for the Six Months Ended December 31, 2023...
According to the Zhitong Finance App, INTL GENIUS (00033) announced interim results for the six months ended December 31, 2023, with revenue of approximately HK$103 million, a year-on-year decrease of 46.65%; loss attributable to the company's equity holders was HK$20.724 million, an increase of 44.71% year on year; loss per share was HK3.86 cents.
According to the announcement, the decline in revenue was mainly due to a decrease in net exports from traditional industries such as toys and plastic product manufacturing in China, which reduced the demand for raw materials by downstream companies, leading to a decrease in overall sales of raw materials; and an increase in market supply of party products due to the resumption of international logistics after the epidemic, leading to a drop in prices due to fierce competition.