ALCO HOLDINGS announced its interim results for the six months ending September 30, 2024. During the period, revenue decreased by 42% to 49.69 million Hong Kong dollars, mainly affected by the slowdown in the domestic economy and intense competition in the electronics market. The gross margin increased from 5% in the same period last year to 9%, primarily due to the transition to a more cost-effective OEM/ODM production model. The net loss for the period was 24.31 million Hong Kong dollars, compared to a net profit of 0.572 billion Hong Kong dollars in the same period last year.The group stated that excluding the one-time gain of approximately 0.613 billion Hong Kong dollars from the cancellation of consolidated accounting for a subsidiary in the same period...Show More

ALCO HOLDINGS announced its interim results for the six months ending September 30, 2024. During the period, revenue decreased by 42% to 49.69 million Hong Kong dollars, mainly affected by the slowdown in the domestic economy and intense competition in the electronics market. The gross margin increased from 5% in the same period last year to 9%, primarily due to the transition to a more cost-effective OEM/ODM production model. The net loss for the period was 24.31 million Hong Kong dollars, compared to a net profit of 0.572 billion Hong Kong dollars in the same period last year.The group stated that excluding the one-time gain of approximately 0.613 billion Hong Kong dollars from the cancellation of consolidated accounting for a subsidiary in the same period last year, the current net loss would be 40 million Hong Kong dollars. As of September 30, 2024, the group's total loss was 79.43 million Hong Kong dollars, with a total loss per share of 0.83 Hong Kong dollars. Cash and deposits amounted to 9.08 million Hong Kong dollars, and net borrowings were 0.191 billion Hong Kong dollars.Faced with a challenging business environment, the group will focus on reducing fixed operating costs, seeking business cooperation opportunities, selling assets to generate positive cash flow, exploring profitable business opportunities, and considering raising funds through the issuance of new shares and Bonds. Management believes that the company still requires more resources to optimize operations, including strategic use of its business partner and investor networks to improve operational efficiency and optimize processes.