Chanson International Holding’s net income slumps to $23,412 in H1 2024

Their gross profit also decreased by 27.8% to $3.1m. 

F&B operator Chanson International Holding’s net income slumped to $23,412 in H1 2024 from $284,760 in 2023, according to the company’s unaudited financial results ended 30 June. 

The company’s gross profit decreased by 27.8% to $3.1m in 2024, from $4.3m in 2023.

Their gross margin also decreased by 7.7 percentage points (pp) to 41.5%, from 49.2% in the same period last year. 

Moreover, the company’s revenue declined by 14.4% to $7.5m, compared to $8.8m for the same period of last year. This was attributed to the decreased revenue from both their stores in China and in the United States (US).

Revenue from the China stores decreased by 7.3% to $6.5m in the first half of the year from $7m for the same period of last year. This was mainly due to the decreased revenue from bakery products as well as from other products.

Meanwhile, revenue from the US stores was $1m in H1 2024, which decreased by 42.2% from $1.8m in H1 2023, due to a decline in revenue from beverage products and eat-in services. However, this was partially offset by the slight increase in revenue from bakery products.

Chanson’s basic and diluted earnings per share were $0.002, compared to $0.027 for the same period of last year.

Chanson operates three brands such as George Chanson, Patisserie Chanson, and the Thyme Bar.