According to the announcement from HK TECH VENTURE (01137), the local economic recovery is slow and continues to face challenges, significantly impacting the retail performance in Hong Kong. According to government statistics, the preliminary estimate for the total value of goods sold in the Retail Trade for the first 11 months of 2024 shows a decline of 6.5% compared to the same period in 2023. Additionally, the significant increase in outbound tourism and the shift in consumption patterns of both local residents and tourists further affect the retail performance of Hong Kong.

In light of these factors, the group's business performance will inevitably be affected in 2024; however, the total trade value of orders still reached 8.58 billion HKD, an increase of 1.9% compared to 8.42 billion HKD in 2023. Among them, HKTVmall slightly decreased by 0.6% to 8.24 billion HKD in 2024, while the street market's same-day cuisine saw significant growth of 166.3% to 0.268 billion HKD in 2024.

Management maintains a cautious attitude towards the group's business prospects and continues to adopt a prudent and strategic approach when forecasting business performance for the upcoming years. Although the group reiterates its commitment to diversified growth and strategic investments, viewing them as key drivers to maintaining success in an increasingly complex and volatile business environment, management will closely monitor the development progress of various new exploration projects. The direction and strategy of these projects will be continuously reassessed based on their progress.