Lingxiong Technology (02436.HK) announced on August 9 that it is expected to increase the period revenue to no less than 94.16 million yuan (June 30, 2023: about 82.24 million yuan) and the gross profit to no less than 9.17 million yuan (June 30, 2023: about 6.99 million yuan) for the six months ending on June 30, 2024, by continuing to deepen market penetration efforts. The group also expects to reduce its net loss for this period to no less than RMB 37.5 million (June 30, 2023: about RMB 42.4 million).
The expected reduction in net loss for this period is mainly due to the above-mentioned increases in revenue and gross profit, and the offsetting effect of the distribution and sales expenses of no less than 26.5 million yuan incurred during this period due to the expansion of the sales team at the end of 2023 as a measure to improve sales and marketing capabilities by the group. The group also expects to record a net adjusted loss (measured under non-international financial reporting standards) of no less than 21.9 million yuan (June 30, 2023: about 11.4 million yuan) for this period.