On May 9, Gelonghui | Quanfeng Holdings (02285.HK) announced that the Group's sales improved during the four-month period ending April 30, 2024, showing a positive acceleration trend. Following the challenges faced by the Group in the 2023 industry inventory removal cycle, the Group believes that the Group's business has reached an inflection point and recorded high double-digit growth in April. Compared with the same four-month period in 2023, it achieved positive year-on-year growth.

Benefiting from favorable weather conditions and effective promotions, the Group's flagship brand, EGO, had strong sales performance in various channels in North America during the four-month period ending April 30, 2024. This development has accelerated the inventory removal process for the Group's major customers, and customer orders have increased month by month as a result. The Group's power tools division is also recovering. Compared with the four months of the same period in 2023, both the terminal market and shipment volume recorded year-on-year growth, especially for DIY brands.

The Group is committed to maintaining the positive momentum of orders and shipments in the coming months, and the Group believes this will help achieve the Group's overall growth target of around 15% to 20% for the full year of 2024. The Group will continue to monitor market trends and optimize the Group's business and operations accordingly.