Zhihua Group (01842) announced its annual results for the year ended December 31, 2023, with the Group's revenue of 292 million...
According to the Zhitong Finance App, Zhihua Group (01842) announced the results for the year ended December 31, 2023. The Group's revenue was HK$292 million, a year-on-year decrease of 26.02%; net profit of HK$1.088 million was recorded, with a loss of HK$466,000 in the same period last year; and a profit of HK0.09 cents per share.
During the reporting period, the Group's performance was mainly affected by (i) the escalation of the Russian-Ukrainian war and (ii) the rise in global inflation and interest rates in 2023. To further maintain the Group's competitive position in the bag and luggage industry, the Group will continue to expand its customer base and optimize its cost structure and supply chain network to achieve the Group's profit and continuous growth.