According to the Zhitong Finance App, Shifu Investment (01049) announced its interim results for the six months ended June 30, 2023. The group achieved revenue of HK$509 million, a year-on-year decrease of 19.44%; the company owners accounted for a loss of HK$5.084 million, compared to a profit of HK$4.153,000 in the same period last year; and a loss of HK$62 per share.

In view of the current market situation, Affordable Group has implemented a number of measures to increase sales and reduce operating costs, while at the same time ensuring that its operations reach the optimal scale. In order to increase market awareness, Affordable Group launched a number of marketing activities to promote the company's brand, propose new loyalty programs, and showcase its household brand products. As the company aims to attract more customers and increase revenue, these measures increased marketing expenses in the first half of 2023 compared to the same period in 2022. Furthermore, Affordable Group continues to monitor the performance of its store portfolio and has adopted a strategy of retaining well-performing stores and closing underperforming stores. As a result, Affordable Group optimized its operating network and reduced the number of stores from 28 in January 2022 to 20 in June 2023.