Blue Moon Group has issued a profit warning, expecting a total comprehensive loss of approximately 665 million Hong Kong dollars for equity holders in the first half of 2024, a significant increase from 167.5 million Hong Kong dollars in the first half of 2023. Despite the growth in sales for all product categories and sales channels, and the increase in gross profit and gross margin for the first half of 2024, the increase in sales and distribution expenses, especially the investment in promoting new products, expanding new e-commerce channels, and brand building, has led to the expansion of losses. The company has adjusted the product placement and sales model of the e-commerce platform to adapt to changes in consumer patterns, and increased investment...Show More

Blue Moon Group has issued a profit warning, expecting a total comprehensive loss of approximately 665 million Hong Kong dollars for equity holders in the first half of 2024, a significant increase from 167.5 million Hong Kong dollars in the first half of 2023. Despite the growth in sales for all product categories and sales channels, and the increase in gross profit and gross margin for the first half of 2024, the increase in sales and distribution expenses, especially the investment in promoting new products, expanding new e-commerce channels, and brand building, has led to the expansion of losses. The company has adjusted the product placement and sales model of the e-commerce platform to adapt to changes in consumer patterns, and increased investment in live streaming e-commerce to consolidate its market position. Blue Moon Group performed well in the '618 Shopping Festival' on major e-commerce platforms during the first half of 2024, but the increase in sales and distribution expenses exceeded the growth in sales, resulting in the expansion of losses. The company will release a detailed performance announcement on or before August 31, 2024, and shareholders and potential investors should act with caution.