Lao Henghe Brewing (02226) announced its 2023 annual results, with revenue of RMB 259 million, a year-on-year decrease of 4...
According to the Zhitong Finance App, Lao Henghe Brewing (02226) announced its 2023 results, with revenue of RMB 259 million, a year-on-year decrease of 4.7%; losses attributable to shareholders were RMB 524 million, an increase of 7.8% over the previous year. A loss of RMB 0.91 per share.
The decline in revenue is due, on the one hand, to the fact that the industry is still affected by a combination of factors such as rising raw material costs, internal turnover, weak consumption, and continued decline in consumer purchasing power. On the other hand, the Group's sales were affected to varying degrees in the process of upgrading and transforming existing equipment.
In 2023, cooking wine series products continued to be the Group's main source of revenue, accounting for about 66.4% of total revenue. On the other hand, with the continuous release of the Group's soy sauce product production capacity, the Group's soy sauce product sales revenue in 2023 was approximately RMB 26.3 million, accounting for about 10.2% of total revenue. The gross margin of the Group's products increased from 27.5% as of 2022 to 28.6% in 2023.