According to Zhitong Financial App, Yongfeng Group Holdings (01549) announced the results for the first half of 2023. The company's revenue decreased by 42.2% year on year to HK$199 million, profit decreased by about 72.2% year on year to HK$6.419 million, and profit per share was HK$0.41 million.
According to the announcement, the main reasons for the decrease in profit attributable to shareholders are: the Group's feeder service revenue decreased by 38.3% compared to the same period in 2022; the Group's carriers' own container service revenue decreased by 51.8%; and the Group's marine freight forwarding service revenue decreased by 54.0%. The reason is that the global economic slowdown and increased competition in mainland China's waterway trade and freight industry have led to a decrease in customer demand for Group services.