Glonghui August 10th 丨Senhao Group (08285.HK) announced that in the six months ending June 30, 2023, the Group recorded revenue of approximately RMB 61.7 million, an increase of about 52.0% over the same period in 2022. The loss was reduced from a loss of approximately RMB 9.9 million for the six months ended June 30, 2022 to a loss of approximately RMB 3.3 million for the six months ended June 30, 2023, a decrease of approximately RMB 6.6 million. The decrease was due to increased earnings for the period, reduced sales and distribution expenses, reduced foreign exchange losses, and impairment losses on reimbursement of trade and other receivables.

The main reason for the increase in earnings is due to a strong rebound in earnings from luggage and travel goods sales after China restarted in January 2023. Quarterly earnings for the first quarter and the second quarter increased by about 32.5% and 72.5% respectively over the same period last year.