Glonghui November 30 | Omori Holdings (01580.HK) announced that in its interim results for the six months ended September 30, 2023, consolidated income decreased by 69.3% to RMB 10.7 million. Losses attributable to company owners improved from a loss of RMB 15.8 million to RMB 200,000; the basic loss per share improved from a loss of RMB 2.33 to RMB 0.03; and the board of directors did not declare an interim dividend.
For the six months ended September 30, 2023, the Group, on the one hand, continued to pursue a policy of reducing the number of orders received from low-profit plywood, and implemented measures to control costs and outsource certain non-core tasks to local workers to reduce production costs. On the other hand, through strategic alliances with allied factories, the wooden board business was greatly expanded to broaden revenue sources, and began generating revenue from the third quarter of 2023. Although these measures led to a decrease in overall earnings compared to the same period in 2022, they made a significant positive contribution to the conversion of gross loss from approximately RMB 0.8 million recorded in the six months ending June 30, 2022 to gross profit of approximately RMB 9.6 million. The Plywood and Related Services segment accounted for approximately 79.5% of the Group's total revenue for the six months ended September 30, 2023.