According to the Zhitong Finance App, Denghui Holdings (01692) announced the results for the six months ended June 30, 2023. Group revenue was about HK$397 million, a year-on-year decrease of about 4.9%; profit attributable to shareholders was about HK$87.3 million, an increase of about 42.6% over the previous year; basic profit per share was approximately HK24.33 cents; and proposed an interim dividend of HK15 cents per share.

The announcement said that in early 2023, European countries experienced high inflation in energy and food prices. Although inflation gradually slowed in the second quarter of 2023, consumer sentiment weakened and inventory turnover at the retail level was slow, putting tremendous pressure on retailers. These challenges have led retailers to adopt a more prudent purchasing approach in placing new orders and restocking inventory. However, thanks to continuous diversification efforts over the years to expand its customer base, and quickly respond to the ever-changing needs of its customers, Denghui was able to offset the decline in demand from some of its existing customers through new orders from new customers. As a result, Denghui achieved relatively stable earnings during this period.