After the fourth quarter of the fiscal year 2023, Hong Kong,...

After the fourth quarter of the fiscal year 2023, Hong Kong, Macau, and mainland China have achieved comprehensive customs clearance. The retail market in Hong Kong and Macau continues to improve, and despite facing a high base effect, the retail business is still growing. The Hong Kong and Macau markets are the main sources of growth. Due to the macroeconomic weakness in the mainland market, consumer sentiment is recovering slowly, and the performance of self-operated stores is not as good as that in Hong Kong and Macau, but the e-commerce business is growing strongly.