Gelonghui, April 22 | Huisen Home (02127.HK) announced that revenue for the year ended December 31, 2023 was approximately RMB 3.64 billion, an increase of about 20.75% over the previous year. Profit for fiscal year 2023 was approximately RMB 203 million, down about 39.30% from fiscal year 2022, mainly due to trade tariffs between China and the US. As a result, gross margin declined, leading to a decline in net profit. Basic and diluted profit per share of the Company's shares for fiscal year 2023 was RMB 6.75 points, while for fiscal year 2022 it was RMB 10.91 cents. A final dividend is not recommended for FY 2023 (FY 2022: none).
In 2023, the Group continued to strengthen its original design capabilities and launched more original design and manufacturing (“ODM”) products. In fiscal year 2023, ODM product sales accounted for more than 80%, and ODM product sales accounted for more than 80% for many years.
Against the backdrop of the overall decline in the industry, the Group's customer orders have declined, but the number of customers has remained generally stable, and the five major customers have remained unchanged, highlighting the Group's attractiveness and competitive advantage in the face of adversity. In fiscal year 2023, the Group added two new customers, Baoyi International Trading Co., Ltd. and Hong Kong Ruichangli International Trade Co., Ltd., which already had some sales in 2023. The Group's channel advantages have been further consolidated.