Lianmeng Technology (02405) announced that compared with the six months ending on June 30, 2023, the group is expected to see a...
According to the announcement by Lianmeng Technology (02405) on Zhongtong Finance App, the group is expected to achieve a decline of less than 90.0% in net profit for the six months ending on June 30, 2024 compared to the corresponding period ending on June 30, 2023.
The board of directors believes that the decrease is mainly due to the group's cross-border digital marketing business facing more intense competition, and the group launched several promotional measures during this period, resulting in a decrease in revenue during this period; and some customers of the group have adjusted their operations, resulting in longer payment periods, and the group has increased its bad debt provision for prudence. Although the net profit for this period has decreased, since 2024, due to the continuous growth of Chinese cross-border e-commerce merchants and the high demand for cross-border marketing services, the demand will continue to drive the overall billings of the group to grow steadily.
