Gelonghui March 15 | Qinqin Foods (01583.HK) announced that for the year ended December 31, 2023, the Group's cumulative sales revenue was approximately RMB 980 million, an increase of 2.5% over the previous year. During the reporting period, the sales revenue of all major product segments of the Group increased. The consolidated net loss attributable to the company's shareholders was approximately RMB 2 million. Compared with the consolidated net loss of approximately RMB 1.4 million recorded for the year ended 31 December 2022, the net loss increased by approximately RMB 600,000.
The increase in revenue was mainly due to the Group's continued expansion of sales channels, which led to an increase in overall sales during the reporting period. The price of the Group's products also increased compared to the same period last year, resulting in an increase in sales amount. By continuously adjusting the product structure and sales strategy, the Group focuses on developing new high-margin products to diversify product types to improve overall product sales and profit margins.