Wise Wealth Financial APP News, K & P Int'l (00675) released the interim results for the six months ending June 30, 2024, the group generated revenue of 89.3309 million Hong Kong dollars, a 6.23% decrease year-on-year; the loss attributable to owners of the company decreased by 55.23% to 10.809 million Hong Kong dollars, with a loss per share of 4.05 Hong Kong cents and a proposed interim dividend of 2 Hong Kong cents per share.

In the first half of 2024, due to inflation higher than the average level, persistently high crediting costs, and uncertain economic outlook, consumer consumption intention remained weak. As a result, the group's revenue decreased by 6.2% compared to the same period in 2023. Nevertheless, the group benefited from increased customer sales orders after the major customers cleared excess inventory in 2023, leading to a relative increase in the group's production line utilization rate and an improvement in gross margin compared to the same period last year. Additionally, due to the significant fluctuations in the RMB exchange rate in the first half of 2024, the group decided to terminate all forward foreign mmf contracts, resulting in a one-time realized loss of approximately 9.6 million Hong Kong dollars. Subsequently, the group will temporarily suspend signing forward foreign mmf contracts to manage the impact on future production costs due to fluctuations in the RMB exchange rate.