Glonghui November 24 | Meijiehui Holdings (01389.HK) announced that in the six months ended September 30, 2023, the Group's earnings decreased by 28.4% to approximately HK$29.5 million. The decrease was mainly due to a decrease in red wine sales from about HK$27.1 million for the six months ended September 30, 2022 to about HK$22.9 million for the six months ended September 30, 2023.
Total losses and overall expenses for the period attributable to company owners were approximately HK$3.5 million, while total losses and overall expenses for the six months ended September 30, 2023 were approximately HK$4.7 million. The Board of Directors does not recommend the payment of an interim dividend for the six months ended September 30, 2023 (the six months ended September 30, 2022: none).
Red wine remains the Group's core product type and main source of revenue growth. To meet the challenges of the Hong Kong retail market, the Group will continue to increase sales volume and expand marketing channels, adjust sales and marketing strategies, and build an inventory portfolio based on customer preferences.