Core Viewpoint - The company, 千百度, has announced the sale of its toy retail business, Toy Kingdom Hong Kong Limited, to Glens Hill Limited, indicating a strategic shift to focus on its core footwear retail and wholesale operations [1] Group 1: Business Performance - The toy retail business has been operating at a loss in 2021 and 2022, with profitability fluctuating around the breakeven point in 2023 and 2024 after accounting for operational expenses [1] - The contribution of the toy retail business to the group's overall profit has been limited [1] Group 2: Strategic Rationale - The decision to sell the toy retail business is influenced by its limited importance to the group's revenue, ongoing losses, and the company's intention to concentrate on its footwear retail and wholesale business, particularly online sales [1] - The sale is expected to alleviate the financial burden related to the net liabilities of the toy retail business by approximately RMB 6.5 million, thereby improving the overall financial condition of the group [1] Group 3: Future Focus - The board believes that the sale will allow the company to focus on its core footwear business, optimizing operational efficiency and supporting long-term strategic goals [1]
千百度(01028.HK)拟出售玩具零售业务