Huafang Group (03611) released its interim performance for the six months ended June 30, 2024, with a profit of 0.965 billion yuan (RMB, same below), a decrease of 40.64% year-on-year; shareholder's share of profit was 34.489 million yuan, compared to a loss of 0.689 billion yuan in the same period last year, a turnaround from loss to profit; basic earnings per share was 0.03 yuan.
The announcement stated that the revenue generated by live and audio social networks decreased by approximately 45.3% from the approximately 1.486 billion yuan in the same period last year to approximately 0.813 billion yuan in the relevant period, mainly due to the challenging and complex external environment and the group's continued implementation of a more cautious operating strategy.
In addition, the trading of the shares remains suspended.