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Jefferies Adjusts Chanjet Information Technology's Price Target to HK$11.54 From HK$9.51, Keeps at Buy
Chanjet Reports Revenue Growth Amidst Net Loss
Chanjet (01588.HK) achieved revenue of 0.453 billion yuan in the first half of the year, with cloud subscription revenue accounting for 68%.
On August 22, Glodon announced its interim results. In the first half of 2024, the group achieved revenue of 452.88 million yuan, a 21% increase over the same period last year. Among them, cloud subscription revenue was 307.85 million yuan, a 35% increase over the same period last year, and cloud subscription revenue accounted for 68% of total revenue; the cloud subscription contract liability at the end of the reporting period was 644.96 million yuan, a 21% increase from the end of the previous year. During the reporting period, the group achieved a gross profit of 327.13 million yuan, a 33% increase over the same period last year. The parent company recorded a loss attributable to owners.
Express News | Chanjet Information Technology H1 Revenue RMB 452.88 Million
Express News | Chanjet Information Technology H1 Basic EPS RMB -0.031
Express News | Chanjet Information Technology H1 Net Income RMB -9.88 Million
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