Summary by Moomoo AI
CEC Int'l Hold ("the Company") announced its full-year performance for the year ended April 30, 2024, showing that the company's revenue decreased from HKD 1,692,403,000 last year to HKD 1,469,606,000, and gross profit also dropped from HKD 643,697,000 to HKD 579,388,000. The company did not receive government subsidies under the "Employment Support Scheme" this year and incurred additional expenses due to the closure of its Singapore subsidiary and impairment of investment property assets. As a result, the company recorded a full-year loss of approximately HKD 29,812,000, compared to a profit of HKD 49,565,000 in the same period last year. While the revenue of the retail business declined, the gross margin slightly increased. The electronic component manufacturing business also recorded an expanded loss while the investment property recorded a loss due to market adjustments. The company will continue to operate prudently and seek growth opportunities in adversity.
