Carry Wealth Holdings (00643) announced that the group expects to record a significantly widened net loss of approximately HK$30 million for the six months ended June 30, 2025, compared to a loss of approximately HK$12 million for the six months ended June 30, 2024.

According to the announcement, these results are primarily attributable to: a substantial revenue decline of approximately 70%, mainly due to significantly reduced order volumes from major customers in the United States and Europe (primarily due to changes in customers' procurement strategies), coupled with broader macroeconomic headwinds; a decline in the group's gross profit margin resulting from continued inflationary pressure on supply chain and subcontractor pricing despite the strategic shift to Southeast Asia; reduced sales volume of higher-margin children's apparel; and the impact of idle costs at the Heshan facility. As stated in the company's voluntary announcement dated May 24, 2024, the Heshan facility has not processed any further production orders for the group after completing existing production orders in May 2024.