On August 22, Guilonghui announced that the interim performance for the six months ended June 30, 2024, the revenue was approximately 76.6 million yuan, a year-on-year decrease of approximately 57.5%. The loss attributable to owners of the company was 6.9 million yuan during the period, while a profit of 27.6 million yuan was recorded in the same period. The earnings per share (basic and diluted) changed from a profit of 4.6 cents in the same period to a loss of 1.14 cents in this period.
The decrease in revenue was mainly due to the temporary suspension of production in the formulation workshop for renovation. The Kidney-Replenishing Pill and Qi-Blood Double-Replenishing Pill are the two best-selling products during the period and the same period. These two products accounted for approximately 46.9% and 45.0% of the total revenue of the group during the period and the same period, respectively. During the period, the northeastern region of China remains the largest contributor to the total revenue of the group. During the period and the same period, the northeastern region of China contributed more than 50.0% to the total revenue of the group.
The group manages the overall gross margin to maintain the group's profitability, while allowing flexible adjustments to the prices of individual products. During this period, the overall gross margin decreased from approximately 32.9% in the same period to approximately 28.3%. This decrease was mainly due to the increase in raw material costs.
