On March 8, GLONGHUI | Grain Mill (01837.HK) announced that the Group expects to record a net profit of about RMB 146 million to RMB 153 million for the year ending December 31, 2023. Compared with the net profit of about RMB 116 million for the same period in 2022, an increase of about 26% to 32%.
The increase in the Group's net profit is mainly due to: (1) effective implementation of business development strategies, a steady rise in overall revenue, especially a sharp increase in new channel business sales in offline channels compared to 2022; (2) effective implementation of marketing strategies and various budget and cost control policies to reasonably and effectively control the increase in sales costs and sales expenses; and (3) effective implementation of operating strategies, and an improvement in counter operation efficiency.