Zhi Tong Cai Jing·2025-11-26 02:46Core Viewpoint - Vitasoy International (00345) experienced a nearly 3% decline, reaching a new low of HKD 6.48 since late October last year, primarily due to weak performance in its mainland China business [1] Financial Performance - For the six months ending September 30, 2025, the company reported revenue of HKD 3.227 billion, a year-on-year decrease of 6% [1] - Gross profit was HKD 1.648 billion, down 7% compared to the previous year [1] - Profit attributable to equity holders was HKD 172 million, reflecting a year-on-year increase of 1% [1] Market Dynamics - The revenue decline of 6% was mainly attributed to challenging market conditions in mainland China [1] - Growth rates for plant-based milk and tea products are slowing in the mainland market, with consumers shifting from traditional retail channels to various online platforms, including social media and instant e-commerce platforms, as well as membership-based stores and chain snack shops [1] - The slowdown in traditional retail channels, which constitute a significant portion of the company's business, has not been fully offset by growth in e-commerce platforms and chain snack stores, leading to an overall revenue decrease of 9% [1]