HK Stock Market Move | EAST BUY (01797) fell more than 9% in midday trading, with a 9.3% year-on-year decline in revenue. The company went from a profit to a loss of nearly 100 million yuan.

EAST BUY (01797) fell more than 9% intraday, down 5.69% to 15.26 Hong Kong dollars with a trading volume of 1.24 billion Hong Kong dollars as of the time of publication. On the news front, EAST BUY released its half-year report ending November 30, 2024. The financial report showed that EAST BUY's half-year revenue was 21.87 billion yuan, a 9.3% decrease from the same period last year's 24.11 billion yuan. Excluding the total revenue generated from joint live broadcasting rooms with Hui Tong, EAST BUY's total revenue from continuing operations was 20 billion yuan, a decrease of 18% from the same period last year. During the period, the company's owners' comprehensive loss amounted to 96.79 million yuan, a turnaround from a profit to a loss compared to the same period last year. Additionally, EAST BUY disclosed that during the reporting period, the GMV (Gross Merchandise Volume) of the company's self-operated products and live e-commerce division decreased from 57 billion yuan to 48 billion yuan, a decline of 16.2%. As of the end of the half-year period on November 30, 2024, EAST BUY's total revenue cost was 15 billion yuan, a 10.2% decrease from the 16 billion yuan in the same period last year, mainly due to the decrease in GMV leading to a reduction in inventory and logistics costs of self-operated products.