According to the Zhitong Finance App, INTL GENIUS (00033) announced that the net loss achieved by the Group for the six months ended December 31, 2023 will increase by 35% to 45% compared to the same period in 2022, mainly due to a decrease of about 40% to 50% in revenue for the current period.
According to the announcement, the main reason for the decline in revenue was: net exports from some traditional domestic industries (such as toy and plastic product manufacturing) declined, prices of raw materials declined due to reduced downstream demand, and overall sales declined; and after the epidemic, international logistics gradually returned to normal. The supply of party products on the market increased, prices declined, and competition was fierce.