Gelonghui, March 26 | Huabao International (00336.HK) announced that for the year ended December 31, 2023, the Group's turnover reached RMB 3.308 billion, down 13.6% from the same period last year; gross profit was approximately RMB 1,469 million, down 21.7% year on year; profit attributable to company equity holders was approximately RMB 234 million; loss attributable to company equity holders was approximately RMB 1,055 million; adjusted profit attributable to company equity holders was approximately RMB 290 million, a decrease of 36.0% year on year ; Basic and diluted profit per share of RMB 7.23 cents, with a proposed year-end dividend of HK$0.8 per share.

The decline in turnover during the reporting period was due to changes in downstream market demand for products and increased market competition, and the turnover of the fragrance and food ingredients sector decreased by 32.4% year on year to RMB 625 million due to falling domestic and foreign market demand; however, due to the increase in upstream market demand due to the recovery in the catering industry, the turnover of the condiments sector increased by 31.6% year on year to RMB 754 million, offsetting part of the decline.