Vitasoy Int'l (00345.HK) CFO Ng Yan Hung said that the Hong Kong market has raised prices from March to April this year, with a low unit increase. There was no price increase in the Mainland China market this year, and there are no plans to increase prices in both places in the second half of this year. She continued that there was a mid-unit price increase in the Mainland China market in October last year, while specific products in Hong Kong had unit increases.

She noted that the increase in gross margin was due to the benefit of price increases and rigorous cost control. CEO Winston Lo Po-tak said he has great confidence in the Hong Kong market and can maintain single-digit growth. The company will continue to develop new products, and it is expected that R&D expenses will remain stable in the future.

Lo Po-tak pointed out that Mainland China's business performance rebounded mainly due to the company's improved distribution channel combination, improved efficiency, accurate forecasting of sales volume, and effective control of sales and marketing costs.

As for the Australia and New Zealand business, revenue was affected by production achievement issues, which caused shortages and delayed deliveries. Lo Po-tak said that this issue only affected plant-based milk products and the problem has been resolved, and the factory is now operating normally. It is believed that the Australia and New Zealand business will improve in the 2024 to 2025 fiscal year.

Paula Law was appointed Vice Chairman in November last year. Lo Yau-lai joked that as his father, his comments were not objective, but he said that the succession plan is on track.

Lo Po-tak said he is very satisfied with Paula Law's performance. Since she was appointed Vice Chairman, her main focus has been to inspect various business markets and to understand the company's daily operations. He stated that Lo Yau-lai is very fond of the company and will continue to serve as the Chairman.