According to the financial app Zhitong Finance, Win Hanverky (03322) announced its interim results for the six months ended June 30, 2024, with earnings of 1.757 billion Hong Kong dollars, an 18% year-on-year increase; a loss of 85.71 million Hong Kong dollars during the period, narrowing by 51.6% year-on-year; and a basic loss per share of 6.3 Hong Kong cents.

It is reported that revenue from the continuous operation business increased by 18.0%, mainly due to the significant improvement in inventory issues by customers in the sportswear production business, along with a recovery in customer orders. The increase in customer orders driven by rising consumer demand in the European market, especially from important large-scale sports events, has led to a resurgence, lifting it back on track.

The gross margin from continuous operation business rose by 34.5%; and the gross margin increased by 2.3 percentage points to 18.6%, driven by the recovery in customer orders in the sportswear production business, which improved capacity utilization and operational efficiency. As a result, the operating loss was significantly reduced to 62 million Hong Kong dollars. The operating loss was mainly due to the continued weak consumer consumption in the retail trade of high-end fashion, recording an operating loss of 52.2 million Hong Kong dollars.