On March 26, Ge Longhui (00950.HK) announced that for the year ended December 31, 2023, revenue was approximately HK$1,053 million, down 14.6% year on year; profit attributable to company owners was approximately HK$166.98 million, a decrease of 67.4% year on year; basic profit per share was 2.84 HK cents, with a proposed final dividend of 1 HK cent per share.
During the reporting period, the Group recorded gross profit of HK$551 million, a decrease of 28.5% over the previous year, in line with the decline in sales. The Group's gross margin for the year was 52.4%, down 10.1 percentage points from 62.5% in 2022. The decrease in gross profit was mainly due to higher supply prices for several imported products; as well as lower sales margins contributed by products included in drug collection plans.