Zhitong Financial APP News, Golden Cat and Silver Cat (01815) released its interim results for the six months ended June 30, 2023. The group achieved an income of 220 million yuan (the same as the unit below), a decrease of 73.76% over the same period last year; a loss of 15.048 million yuan attributable to the company's owners, an increase of 45.52% over the same period last year; a basic loss of 0.02 yuan per share.
In terms of the group's new jewelry retail business division, the slower-than-expected domestic economic recovery led to continued weakness in consumer sentiment, which kept sales low in the first half of 2023, but still generated fixed costs such as administrative expenses, which were relatively unaffected by sales. As a result, the division made a net loss in the first half of 2023. As far as the fresh food retail business division of the Group is concerned, the "Farmer and Shepherd" S2B2C platform is still in the consolidation stage, focusing on optimizing the cooperative store network, enriching the product range and adjusting the business strategy. In addition, pig prices in mainland China have shown a downward trend since the fourth quarter of 2022, which has led to a decline in the desire of shopkeepers to trade in the first half of 2023, thus affecting pig purchases. As a result of the above reasons, sales in the first half of 2023 were significantly lower than those in the first half of 2022, while the cost of sales and other related costs and expenses decreased significantly accordingly. Overall, in view of its current development, the division did not begin to generate net profit in the first half of 2023.