GLONGHUI November 30丨Dalis International (00333.HK) announced the business overview for the first quarter of fiscal year 2024.
Sales business
During the quarter, the Group's sales revenue decreased 25% compared to the same period last year to HK$230.4 million, mainly due to weak demand from major US customers and the seasonal impact on the Group's sales. During the quarter, the US market accounted for 73% of the Group's total sales; the European market accounted for 16%; and the rest of the market accounted for 11%.
Manufacturing business
During the quarter, overseas production capacity of plants in Asia (excluding China) accounted for 64% of global production capacity, while China accounted for the remaining 36%. The utilization rate of the Group's production capacity is affected by weak demand and the seasonality of customer orders. Since most orders from the Group's US customers are produced in Southeast Asia, the impact on Southeast Asian plants is particularly severe. As a result of the above situation, we have begun to integrate and actively balance production capacity between plants to reduce operating costs and improve utilization.
During the quarter, gross margin declined compared to the same period last year due to lower sales revenue and changes in customer and product mix.
During the quarter, the Group's capital structure and debt ratio were approximately 31.2%.