According to the Zhitong Finance App, Xunzhihai (08051) announced its 2023 results, with revenue of about HK$152 million, a year-on-year decrease of 58.68%; profit attributable to company owners was HK$5.891 million, up 16.4% year on year; profit per share was HK25.14 cents.
According to the announcement, the decrease in revenue was mainly due to a decline in classification revenue from sales and distribution categories after the business model was adjusted.
The overall gross margin increased from 7.2% in 2022 to about 9.1%, mainly due to growth in the maintenance and service support category, which is higher than the gross margin of the sales and distribution category.
The increase in net profit was due to improved operating efficiency and a reduction in sales and distribution expenses and administrative expenses, as well as an increase in net profit attributable to an associated company using the equity method.