The Hong Kong-based footwear maker’s profit tumbled 73% to end 2023, with net income attributable to shareholders of $451,000 for the year against $1,683,000, on 35% lower revenues of $6,039,000 down from $9,254,000. The decline was primarily contributed to the decrease in the fair value of leased-out factories in response to the poor market climate. Gross margin grew to 52.4% from 48.9%, while operating ... Log in to view full article.
