Adtiger Corp (01163) announced that the group is expected to have a net loss of approximately RMB 4 to 6 million for the six months ended June 30, 2024...
Adtiger Corp (01163) announced that the group is expected to have a net loss of approximately RMB 4 to 6 million for the six months ended June 30, 2024, while the net profit for the six months ended June 30, 2023 was about RMB 5.4 million.
The Board of Directors believes that the main reason for the net profit turning into a net loss is due to the sluggish global economy and increasingly fierce market competition during the reporting period. In order to encourage customers to increase advertising efforts, the Group offered more favorable pricing policies to customers, resulting in a decline in gross profit during the reporting period. The Board of Directors believes that increasing market share will benefit Yau Lee Hold's long-term development under the current economic downturn.
