HK TECH VENTURE (01137): HKTVmall slightly decreased by 0.6% to HK$8.24 billion in 2024.

HK TECH VENTURE (01137) announced that the slow recovery of the local economy continues to pose challenges, significantly impacting retail performance in Hong Kong. According to government statistics, the total sales value of the retail industry for the first 11 months of 2024 has temporarily decreased by 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 have further affected retail performance in Hong Kong. Due to these factors, the Group's performance in 2024 has inevitably been affected, but the total merchandise transaction value of orders reached HK$8.58 billion, a 1.9% increase from HK$8.42 billion in 2023. HKTVmall slightly decreased by 0.6% to HK$8.24 billion in 2024, while street market dishes saw a significant increase in 2024 of 166.3% to HK$268 million. The management maintains a cautious outlook on the Group's business prospects and continues to adopt a cautious and strategic approach in forecasting business performance in the coming years. Despite reiterating their commitment to diversified growth and CKH HOLDINGS strategic investments, viewing them as key drivers of success in an increasingly complex and changing business environment, the 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 development.