Gelonghui March 28th 丨Grain Mill (01837.HK) announced that for the year ending December 31, 2022, the company's revenue was RMB 1,719 million, an increase of 7% over the previous year; profit attributable to company owners during the year was RMB 116 million, an increase of 21% over the previous year. The basic profit per share was RMB 0.054 million.

2022 is a very important and significant year for the Group's development. While successfully overcoming the impact of the COVID-19 pandemic on the retail and food and beverage industries, the Group is convinced that brands will be the driving force behind food industry enterprises, and that category selection, product development, and channel planning should all revolve around brand construction and operation. The Group's operating results in 2022 also proved the correctness of this strategic thinking and sustainable development.

For the year ending December 31, 2022, the absolute amount of sales revenue from its offline and online channels both increased compared to the year ending December 31, 2021. This was due to an increase in revenue generated from online channels, but slowed down due to a decrease in revenue generated from offline channels.

The decline in offline channel sales was mainly due to (i) offline direct sales counters adopting a “streamlining and efficiency” strategy to reduce the number of offline direct counters while increasing the average revenue of each offline direct sales counter; and (ii) benefiting from the Group's effective implementation of the new channel business development strategy, which led to strong revenue growth in the new channel business