According to the Zhitong Finance App, Goodboy International (01086) announced the results for the year ended December 31, 2023. The group obtained revenue of HK$7.927 billion, a decrease of 4.4% year on year; parent company owners should have accounted for profit of HK$204 million during the year, up 507.5% year on year; basic profit per share was HK$0.12.
Despite the uncertain macroeconomic environment, the Group remains steadfast in focusing on the development of its strategic brands and supporting the continued development of the blue chip business. The Group has continuously honed and enhanced its capabilities and crisis management capabilities over the past few years, showing strong resilience and achieving a strong reversal in performance during this period. Earnings in the first three quarters were suppressed, particularly the Group's Evenflo and blue chip businesses, mainly due to last year's inventory removal activities continuing into the current period. As inventory removal activities came to an end, the Group's earnings performance rebounded in the fourth quarter, gaining momentum. During this period, the Group continued to surpass its competitors and increase its market share in major international markets. The Group's profitability achieved strong momentum: gross margin increased by 9.6 percentage points to a new high of 50.1%, and operating profit margins rebounded rapidly throughout the year; during this period, the Group also generated strong operating cash flow, demonstrating the Group's consistent commitment to improving profitability and cash flow management.