China Boton profit plunges 55% on weaker revenue

China Boton Group Company Limited (HKEX: 3318) reported a 55% decrease in net profit, dropping to RMB63.3 million for the year ended December 31, 2024, compared to RMB140.6 million in the previous year. The decline was attributed to a severe global business environment and a RMB67.4 million impairment loss on goodwill related to its tobacco businesses. Revenue also decreased by 19.9% to RMB1,653.0 million, with gross profit falling 25.1% to RMB597.9 million. E-cigarette and flavor enhancer segments contributed 75.1% of total revenue. Basic earnings per share decreased to RMB0.02 from RMB0.14 in 2023. The board did not recommend a final dividend for the year.