China Bolton 2024 interim report: revenue fell 6.7% year-on-year to 750 million yuan, and e-cigarette product business decreased 21% year-on-year
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China Bolton 2024 interim report: revenue fell 6.7% year-on-year to 750 million yuan, and e-cigarette product business decreased 21% year-on-year
China Boton Group Co., Ltd. (3318.HK) released its 2024 interim performance report. In the first half of the year, the company achieved revenue of 751 million yuan, a year-on-year decrease of 6.7%. The net profit from continuing operations was 63 million yuan, a year-on-year decrease of 24.7%. Among them, the e-cigarette product business fell 21.6% year-on-year to 256 million yuan.
Recently, China Boton Group Co., Ltd. (3318.HK) released its 2024 interim 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%. Achieved a net profit of 63 million yuan from continuing operations, a year-on-year decrease of 24.7%;
At the specific business level, during the reporting period, the revenue from the sale of electronic cigarettes and their accessories was approximately 256,100,000 yuan, a year-on-year decrease of 21.6%;
During the reporting period, the proportion of electronic 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 flavor enhancers, food flavors and daily flavors businesses have all grown steadily, increasing by 0.7%, 3.4% and 12.3% year-on-year respectively.
Image source: China Boton Group
The company said that the decrease in revenue from the e-cigarette product business was due to fierce competition in the Chinese e-cigarette market. The company will launch new products in the second half of this year, and the e-cigarette product business may resume normal growth momentum in the next quarter of this year.
In addition, the company mentioned that it will implement a new strategy in the second half of the year, including corporate restructuring, reforming the marketing team, and establishing a new product brand promotion team to cope with the new market era of the e-cigarette industry.
