Gelonghui, March 26, 丨 Shunlong Holdings (00361.HK) announced that for the year ended December 31, 2023, the Group's revenue was approximately HK$217 million, a year-on-year decrease of 54.83%; the loss attributable to company owners during the year was approximately HK$18.537 million (2022: HK$15.949 million). Basic and diluted losses per share were approximately HK0.36 cents (2022: HK0.31 cents).
In 2023, major golf brands accumulated large inventories during the pandemic due to logistics and transportation issues. Procurement has now been delayed due to the need to digest inventory, causing demand in the golf industry to shrink. Affected by the reduction in order volume, the Group's golf revenue declined significantly for the year ended December 31, 2023.
The Hospitality Division did not generate revenue during the year due to delays in the development of external constraints in the Commonwealth of the Northern Mariana Islands (“Commonwealth of the Northern Mariana Islands”). The Group has taken rationalization measures to further streamline operations and optimize costs. The Board of Directors is committed to exploring more diverse potential development opportunities to expand the Group's business and make the Group's business more diversified.