JIASHILI GP released its annual performance, with a profit attributable to shareholders of HKD 54.461 million, a year-on-year decrease of 14.8%

According to the Zhitong Finance APP, JIASHILI GP (01285) released its annual performance for the year ending December 31, 2024, reporting revenue of RMB 1.803 billion, an increase of 6.9% year-on-year; the profit attributable to shareholders was RMB 54.461 million, a decrease of 14.8% year-on-year; earnings per share were 13.12 cents, with a proposed final dividend of HKD 0.1 per share. JIASHILI is one of the largest premium biscuit manufacturers in China, with a history of over 68 years since its establishment in 1956. We market, sell, and distribute products under more than 12 brands in approximately 31 provinces and municipalities as well as 310 prefecture-level cities, launching over 660 stock-keeping units in China. At JIASHILI, food sales are just one part of serving our customers. Serving customers also means being a responsible and sustainable enterprise, providing safe, nutritious, and affordable biscuits to all stakeholders (customers, colleagues, suppliers, and shareholders), ensuring that stakeholders feel they are getting great value. With an experienced and focused management team, a robust profit model, and strong brand appeal, the Group has steadily progressed in a complex and changing economic environment, achieving record revenue in 2024. Under effective operations, the Group achieved a historical high of approximately RMB 1.8 billion in revenue in 2024. Since 2020, the Group's revenue has maintained a compound annual growth rate of 4.4%. In response to rising cost pressures, we have strengthened our support for customers, colleagues, suppliers, and communities, resulting in incredible resilience in our business performance. At the same time, we have made further progress in achieving our strategic priorities. The further recovery of the Chinese economy and the new characteristics and trends in the consumer market present both challenges and opportunities for us. Providing consumers with a more valuable consumption experience has been a significant theme we have long committed to. In 2024, the Gross Domestic Product (GDP) of the People's Republic of China grew by 5.0% year-on-year, and the total retail sales of consumer goods increased by 3.7% year-on-year, highlighting the resilience and vitality of the Chinese economy, with consumption becoming a major driver of economic growth. The Group continues to face adverse impacts from various aspects, such as a volatile and uncertain business environment, as well as pressure from consumers' discretionary spending. However, we still believe that the Group's business model will enable us to achieve strong performance and further sales growth