Dickson Concepts (00113.HK) issues profit warning, expecting annual net profit attributable to shareholders to decrease by approximately 42% year-on-year.

Wisdom Finance and Economics APP news, Dickson Concepts (00113.HK) announced that the expected annual sales revenue for the year ending on March 31, 2025 is expected to decrease by about 20% year-on-year, and the net amount of surplus profits attributable to shareholders is expected to decrease by about 42% year-on-year. Despite an increase in surplus profits from the investment department, this decline is almost entirely due to the decrease in sales and profits in Hong Kong, China. The Board believes that this is due to the sharp shift in retail patterns, with local travelers prioritizing tourist destinations that offer a great shopping experience rather than shopping locally, and mainland Chinese tourists no longer considering shopping as their main purpose for traveling to Hong Kong, leading to extremely weak consumer confidence in Hong Kong, China. At the same time, China has extended its "buy-now, refund-now" policy for outbound tourists from designated cities to nationwide, reducing Hong Kong's attractiveness to foreign tourists.