Zhitong Financial APP News, Kejin International (06822) released interim results for the six months ended June 30, 2023. The group earned HK $334 million in income during the period, down 28.82% from the same period last year; profit attributable to shareholders was HK $7.567 million, down 17.54% from the same period last year; and basic profit per share was HK1.1 cents.
The announcement said that the decline in earnings was mainly due to soaring inflation and changes in consumer habits during the period, no longer choosing middle-and high-end priced household and drinking utensils, causing group customers to place fewer orders. In addition, as the Group's strategy focuses more on high-quality and high-value business and improving the Group's sales portfolio to promote the long-term development of the Group's business, the Group's low-value business earnings and earnings have declined.