Summary by Moomoo AI
Inno-AI Technology Group Co., Ltd. ("Inno-AI") has issued a profit warning, forecasting a decrease in revenue and gross margin by approximately 30% to 40% for the six-month period ending on June 30, 2024, due to cyclical pressures and operational challenges faced by some industry customers affected by the market environment. However, the company expects significant improvement in operating cash flow during the same period, up by over 70%, and gross margin and adjusted profitability will also improve. Inno-AI stated that it will continue to implement pragmatic and long-term development strategies, actively respond to market challenges, and enhance its technology products and business sustainable operation capabilities. The company is currently preparing a midterm performance report, which is expected to be released by the end of August 2024. Shareholders and potential investors should proceed with caution.
