China Boton (3318.HK) Mid-Year Report: Revenue Down 6.7% to 750M Yuan, E-Cig Business Decreases by 21% YoY

Business by 2FIRSTS.ai

Aug.26.2024

China Boton (3318.HK) Mid-Year Report: Revenue Down 6.7% to 750M Yuan, E-Cig Business Decreases by 21% YoY

China Boton Group Limited (3318.HK) reported a 6.7% decrease in revenue for the first half of 2024.

Recently, China Boton Group Limited (3318.HK) released its 2024 mid-year performance report.

In terms of revenue and profit, the company achieved revenue of 751 million yuan in the first half of 2024, a year-on-year decrease of 6.7%. It achieved a net profit from continuing operations of 63 million yuan, a year-on-year decrease of 24.7%.
At the business level, during the reporting period, the revenue from sales of e-cigarettes and accessories was approximately 256.1 million yuan, a decrease of 21.6% compared to the previous year.
During the reporting period, the proportion of e-cigarette product revenue decreased from 40.6% in the same period last year to 34.1% this year.
At the same time, the company's flavors, food flavors, and daily use flavors businesses all saw steady growth, with increases of 0.7%, 3.4%, and 12.3% respectively compared to the previous year.

The company stated that the decrease in revenue from e-cigarette products was due to intense competition in the Chinese e-cigarette market. The company plans to launch new products in the second half of this year, which may help the e-cigarette product business return to normal growth momentum in the coming quarters of this year.

Furthermore, the company mentioned that it will implement new strategies in the second half of the year, including corporate restructuring, reforming the marketing team, and establishing a new product brand promotion team to address the new market era in the e-cigarette industry.

References:

[1] 中國波頓集團有限公司截至二零二四年六月三十日止六個月中期業績

Also Read:

[1] 103% Surge in 10 Days: What Does China Boton 2023 Performance Report Reveal?

[2] China Boton's E-cigarette Revenue Declines Due to New Policies

[3] China Boton Announces Sale of Subsidiary Mons

#E-cigarettes #Asia #Market #China

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