Zhitong APP News, Xinxing Printing (01975) released its final results for the year ended June 30, 2023. The group earned HK $534 million, down 18.74% from the same period last year. The profit attributable to shareholders was HK $77.486 million, down 33.07% from the same period last year. Basic profit per share was HK16.14 cents.
The announcement said that the decrease in revenue was due to a decline in printing revenue from packaging and paper gift sets, which was mainly due to customers adopting a more conservative consumption pattern under the worries of global economic growth and high inflation. in order to reduce consumption in printing and marketing products, but also indirectly reduce sales orders received by the group from foreign and local customers.