Gelonghui December 11丨CEC INT'L HOLD (00759.HK) announced that compared with the unaudited profit of approximately HK$33.8 million for the six months ended October 31, 2022 (the “previous period”), the Group will record an unaudited profit of approximately HK$100,000 to approximately HK$500,000 in the six months ended October 31, 2023.
The anticipated decline in unaudited profit in the medium term is mainly due to the following factors: 1) no other revenue from the Hong Kong government's COVID-19 subsidies was recorded in the medium term (previous period: HK$18.842 million); and 2) after COVID-19 travel restrictions were lifted outside Hong Kong, the number of overseas travelers increased significantly, leading to a decrease in retail sales.