Netease Group (02147) announced that the group expects a net loss after tax of no less than approximately RMB 16 million for the six months ending on June 30, 2024.
Netease Group (02147) announced that the group expects a net loss after tax of no less than approximately RMB 16 million for the six months ending on June 30, 2024, while the net profit after tax for the six months ending on June 30, 2023 is approximately RMB 29.7 million.
The announcement states that the decline in financial performance for the six months ending on June 30, 2024, and the turnaround from loss to profit is mainly due to the impact of the macroeconomic environment and the decrease in consumer purchasing power, resulting in a decrease in the group's gross profit.