Summary by Futu AI
CEC International Holdings Limited (CEC International), announced its annual financial report on April 30, 2024, showing a 13.2% decrease in annual revenue to HKD 1,469,606,000 and an annual loss of HKD 29,812,000 with a basic loss per share of 4.47 Hong Kong cents. The company stated that the revenue decline was mainly due to the complex challenges faced by the retail trade, including geopolitical risks, interest rate cycles, and adjustments in the financial and real estate markets. In addition, after the retreat of the COVID-19 pandemic, the reopening of Hong Kong's border ports and the trend of outbound tourism led to a reduction in local consumer spending, and evening traffic and consumer spending did not recover to pre-pandemic levels. The company did not declare any interim or final dividends during the reporting period and will suspend share transfer registration from September 20, 2024 to September 26, 2024. Ms. Ho Wing Yi, the company secretary, stated that CEC International will continue to focus on business development and bring long-term investment returns to shareholders.
