Yangyu Technology (08113) announced its 2023 results, with revenue of approximately HK$1.03 billion, a year-on-year decrease of 30.6...
According to the Zhitong Finance App, Yangyu Technology (08113) announced its 2023 results, with revenue of about HK$1,203 billion, a year-on-year decrease of 30.6%; profit attributable to company owners of HK$3,942 million, loss of HK$685.45 million in 2022; basic profit of HK0.5 cents per share.
According to the announcement, the main reasons for the decline in earnings are as follows: after the epidemic in mainland China was lifted, it did not bring about the expected economic rebound. Coupled with the relatively conservative consumption attitude of domestic residents, domestic demand fell sharply; affected by the slump in the global business environment such as rising global inflation and high US interest rates, consumer electronics market demand weakened and export orders declined.
The shift from loss to profit was mainly due to panel gross profit returning to normal in 2023, driving overall gross profit growth; the Group has good monitoring and control over inventory levels, keeping the group's inventory level in a healthy state, so inventory provisions for 2023 have been reduced.