On March 25, Ge Longhui | Hong Fu Tang (01446.HK) announced that for the year ended December 31, 2023, revenue was HK$672.7 million, a decrease of 2.0% over the previous year. Revenue from retail operations decreased by 2.6% to HK$503.8 million, operating a total of 111 retail stores in Hong Kong on 31 December 2023. Revenue from the wholesale business decreased by 0.2% to HK$168.9 million.
Gross profit in 2023 decreased by 3.0% from 2022 to HK$393.5 million, while gross margin in 2023 fell 0.6 percentage points to 58.5% from 59.1% in 2022. The loss attributable to the owner of the company was HK$34.6 million in 2023, while the profit attributable to the owner of the company was recorded in 2022 of HK$5.3 million. Loss per share in 2023 was HK5.28 cents (2022: earnings per share of HK0.80 cents).