Tiange Interactive (01980) announced that it is expected to achieve a net profit of approximately RMB 42 million to RMB 46 million for the six months ending June 30, 2024. In the same period in 2023, the net profit was RMB 7.58 million, which has significantly increased.
According to the announcement released by Tiange Interactive (01980), it is expected that the group will achieve a net profit of approximately RMB 42 million to RMB 46 million for the six months ending on June 30, 2024, significantly higher than the net profit of RMB 7.58 million achieved in the same period in 2023.
During the reporting period, the group's net profit has significantly increased compared to the same period in 2023. This significant improvement was mainly due to the significant fair value gain of the group's financial investments. The result was driven by multiple macroeconomic factors: strong overall stock market performance, especially in the technology sector; inflation slowdown and market expectations of a possible rate cut by the US Federal Reserve; and the concentrated influence of several large technology companies in the US stock market. In addition, the increase in the fair value of the group's investment in venture capital funds further promoted the increase in net profit.
