CEC INT'L HOLD announced its interim results for the six months ended October 31, 2024. During the period, the group recorded a total revenue of HKD 0.702 billion, a year-on-year decrease of 6.5%; the loss attributable to equity holders was HKD 28.65 million, compared to a profit of HKD 0.33 million in the same period last year. The revenue from the retail business segment was HKD 0.675 billion, a year-on-year decrease of 7.1%, accounting for approximately 96% of total revenue.The poor performance of the retail business was mainly affected by three major factors: the number of local residents traveling overseas remains high, with no significant rebound in foot traffic; Hong Kong residents tend to maintain their pandemic-era living habits, with nighttime foot...Show More

CEC INT'L HOLD announced its interim results for the six months ended October 31, 2024. During the period, the group recorded a total revenue of HKD 0.702 billion, a year-on-year decrease of 6.5%; the loss attributable to equity holders was HKD 28.65 million, compared to a profit of HKD 0.33 million in the same period last year. The revenue from the retail business segment was HKD 0.675 billion, a year-on-year decrease of 7.1%, accounting for approximately 96% of total revenue.The poor performance of the retail business was mainly affected by three major factors: the number of local residents traveling overseas remains high, with no significant rebound in foot traffic; Hong Kong residents tend to maintain their pandemic-era living habits, with nighttime foot traffic and consumer spending not returning to pre-pandemic levels; and high Hong Kong dollar interest rates affecting Capital Markets and the Real Estate market, suppressing local consumer spending appetite. During the period, the retail business segment recorded a gross profit of HKD 0.272 billion, a year-on-year decrease of 8.9%, with a gross margin of 40.4%, down 0.8 percentage points.As of October 31, 2024, 759 A Xin House operates 169 stores, an increase of 4 stores compared to the end of last year. The group will continue to expand the sourcing range, introducing more new Commodities to enhance the shopping experience for customers. At the same time, it will review the leases of stores whose contracts are about to expire and negotiate renewal arrangements with the landlords, aiming to adjust the new rental levels. Management will close underperforming stores to improve overall profitability and seek reasonably priced locations suitable for further expanding the store network.