Summary by Moomoo AI
Limen Technology Group Limited issued a profit warning, and the unaudited comprehensive management accounts for the six months ending on June 30, 2024, showed that the net profit is expected to decrease by less than 90% compared to the same period last year. The company pointed out that the main reason is the fierce competition faced by cross-border digital marketing businesses, which has led to a reduction in revenue due to promotional measures, as well as an extension of the collection period due to adjustments in some customer operations, resulting in an increase in bad debt provision. Despite the decline in net profit, the continuous growth of China's cross-border e-commerce merchants has maintained the steady growth of the overall bill, and the demand for cross-border digital marketing services remains high. The company emphasized that these data have not yet been reviewed or audited by auditors and reminded shareholders and potential investors to act prudently when buying and selling shares. Limen Technology will announce detailed mid-term performance in August 2024.
