Boney Holdings (01906) announced that it is expected that the Group will obtain revenue for the year ended December 31, 2023...
According to the Zhitong Finance App, Boney Holdings (01906) announced that the Group is expected to obtain revenue of approximately RMB 177.7 million for the year ended December 31, 2023 (2022: revenue of approximately RMB 160.9 million); and losses attributable to owners of the parent company of approximately RMB 45 million in 2023 (2022: loss attributable to owners of the parent company is approximately RMB 70.9 million).
The board of directors believes that continued losses are mainly due to the following reasons: due to the fact that some customers built their own factories and production, product restructuring, and inventory backlogs were not completely digested, the group's original design manufacturer's product segment revenue was about RMB 135 million (2022: revenue of about RMB 119 million), which fell short of expectations and could not cover all costs and expenses of the factory; and in 2023, the Group's brand sales were strategic priorities to increase cash flow, close losing stores, and clear inventory. 32 retail stores were closed throughout the year, with many sales at low prices through promotions and discounts, factory wholesale sales, and online stores. The channel digested inventory products, and the brand's product lost approximately RMB 25.7 million after deducting the corresponding sales expenses.