Tongrentang Sinopharm (03613) announced its annual results for the year ended December 31, 2023, and the group achieved acceptance during the period...
According to Zhitong Finance App, Tong Ren Tang Sinopharm (03613) announced the results for the year ended December 31, 2023. The group achieved revenue of HK$1,525 million, a year-on-year decrease of 11.9%; profit attributable to company owners was HK$540 million, a year-on-year decrease of 16.3%; basic profit per share was HK$0.65; and a final dividend of HK$0.33 per common share was proposed.
According to the announcement, the decline in revenue was mainly due to the year-on-year decline in sales of the Group's broken Ganoderma lucidum spore powder in mainland China. Although Hong Kong, China gradually escaped the impact of the epidemic, and revenue from the Hong Kong market increased 10.8% year on year. Since the consumer market in mainland China has not recovered and people are more cautious, there is a certain deviation between actual market conditions, demand and expectations after the epidemic. Some distributors in mainland China are still digesting the Group's inventory of Ganoderma lucidum spore powder this year, which affected the Group's sales revenue in mainland China fell 70.2% year on year.