Gelonghui Group (01412.HK) announced on February 2, that the Group expects to record the comprehensive profit attributable to the company's equity holders for the year ending December 31, 2023, between HK$77 million and HK$85 million, compared to about HK$126.8 million in 2022.
The Board of Directors believes that the decline is mainly due to the decrease in the Group's original equipment manufacturer (“OEM”) sales revenue in 2023 compared to 2022. This is mainly due to continued inflationary pressure in our main markets in 2023 and the slowdown in global economic growth, which weakened the consumer climate and reduced demand for products from several major OEM customers. Despite the decline in the Group's OEM sales revenue, the Group's website sales revenue remained stable in 2023.