HK Stock Market Move | SUNART RETAIL (06808) falls by more than 3% with the stock price experiencing three consecutive declines. Mid-term revenue and gross profit both declined.

SUNART RETAIL (06808) fell by more than 3%, with the stock price currently experiencing a third consecutive decline. As of the time of writing, it has decreased by 3.27% to HK$2.07, with a turnover of HK$104.314 million. In terms of news, SUNART RETAIL released its performance for the six months ending September 30, 2024, with revenue of 34.708 billion yuan, a year-on-year decrease of 3%; gross profit of 8.526 billion yuan, a decrease of 4.1%; and a net profit attributable to owners of the company of 206 million yuan, compared to a loss of 359 million yuan in the same period last year. Additionally, for the six months ending September 30, 2024, revenue from the sale of goods was 33.186 billion yuan, a decrease of 1.039 billion yuan compared to the same period, with a decline of 3.0%. This decline was mainly due to the closure of long-term loss-making stores and the contraction of supply chain businesses such as Taocai Cai and Tmall shared inventory.