Li Bang Lost HK $265 Million In 2018 And Retail Sales Fell 2.6%

In April 17th, Li Bang announced that Li Bang achieved an income of HK $1 billion 723 million in 2018, an increase of 1.28% over the same period last year, a gross profit of HK $1 billion 195 million, an increase of 3.02% over the previous year, a core operating loss of HK $248 million, a narrowing of 43.74% over the same period last year, and a loss of HK $265 million in profit attributable to shareholders.

In this regard, Li Bang said in a notice, although the annual retail sales fell 2.6%, but the same store sales increased by 1%.

In addition, benefiting from the new authorization agreement made by the group and Ruyi group during the year, the authorized revenue increased by 108.9%.

Meanwhile, Li Bang's gross profit margin improved slightly in 2018, reaching 69.4% and 68.2% in 2017. This is because Li Bang has adjusted its brand positioning and pricing strategy, supplemented by effective cost control measures, and its effectiveness has been further reflected in the fourth quarter of 2018, with gross profit margin reaching 69.9% and 2017 fourth quarter being 66.6%.

The gross margin of gross domestic product in the Greater China region increased slightly from 69.4% in 2017 to 70% in 2018, due to reduced price promotions, changes in product mix and inventory clearance.