On August 29, Infinities Tech (01961.HK) announced its interim performance. In the first half of 2024, the company's revenue decreased by 6.2% year-on-year to approximately RMB 0.134 billion. This decrease is mainly due to a decrease in revenue from mobile game business of approximately RMB 9.3 million, an increase in revenue from digital media business of approximately RMB 31.4 million, and a decrease in revenue from game product supply business of approximately RMB 31.1 million.
In the first half of 2024, the gross profit decreased by approximately 10.6% year-on-year to approximately RMB 21.2 million. This decrease is mainly due to (1) a slight decline in revenue from the mobile game business in this period; and (2) the initial development stage of new ai application development and related services business, which consumes more resources and has a lower gross profit level. The parent company's attributable loss is RMB 22.38 million, compared to RMB 10.416 million for the same period last year, resulting in a basic and diluted loss per share of 3.3 cents.
