On August 19th, Gelunhui announced its mid-year performance. As of June 30, 2024, the company's revenue was HKD 42.118 million, a year-on-year increase of 9.2%. Shareholders' loss was HKD 5.999 million, a year-on-year decrease of 72.3%. Basic loss per share was 1.12 Hong Kong cents.
During this period, with the restructuring of the management and sales team, the group continued to work hard and promote the sales and turnover of inventory through diversified channels, turning inventory into cash flow. At the same time, by selling part of the inferior and problematic inventory at the optimal price last year, the target set at the beginning of the year was achieved, and the provision for inventory impairment was reversed, resulting in the gross margin increasing from -12.1% in the same period last year to 12.7% in this period. The gross profit changed from a loss to a profit, and the reduction in administrative expenses led to a significant decrease in the group's operating loss compared to the same period last year, effectively curbing the downward trend of operating conditions, and achieving the expected goal of stable operation and production. The operating capacity and quality steadily improved.
