Fulum GP Hldg (01443.HK) announced on November 15 that, based on its unaudited comprehensive management accounts for the six months ended September 30, 2024 ("the period") and the preliminary assessment made by the board of directors based on the information currently available, it is expected that the Group will record a loss attributable to owners of the company of approximately 40 million Hong Kong dollars to 50 million Hong Kong dollars during the period, compared to a profit attributable to owners of the company of approximately 1.9 million Hong Kong dollars in the same period last year.
The board of directors believes that the above-mentioned loss is mainly due to the challenging business environment, which has had an adverse impact on consumer sentiment and non-essential consumption patterns. In the unclear economic situation, consumer downgrades continue, coupled with the trend of mainland Chinese consumers going north, leading to a significant decline in retail sales in neighboring cities of China, causing a significant decrease in the Group's revenue.
