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In the first half of the year, the parent company of infinities tech (01961.HK) reported a net loss of 10.416 million yuan.
On August 29th, Gilonghui 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 was 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, gross profit decreased by approximately 10.6% year-on-year to approximately RMB 21.2 million. This decrease was mainly due to (1) a decrease in revenue from the mobile game business in this period.
Infinities Tech (01961) announced its interim performance, with research and development expenses of 16.045 million yuan, a year-on-year increase of 31.64%.
Infinities Tech (01961) released its interim results for the six months ended June 30, 2024, during which period the group...
INFINITIES TECH: INTERIM RESULTS ANNOUNCEMENTFOR THE SIX MONTHS ENDED 30 JUNE 2024
"Forcing ordinary practitioners to quit? Mihoyo's Cai Haoyu's latest controversial statement sparks heated discussions."
①Mi Haoyou, the founder of Mihoyo, stated on social media that only top talents and those who develop games for their interests have logical significance in game creation. Other game developers may consider changing careers. ②Mi Haoyou's remarks, known as "extreme theories" by some, have sparked discussions in the gaming industry.
Infinities Technology Forecasts Wider Loss in H1
Infinities tech (01961.HK) profit warning: expected mid-term loss of 18 to 22 million yuan.
According to the announcement by Infinities Tech (01961.HK) on August 21, the group is expected to record a loss in the range of RMB 18 million to RMB 22 million for the six months ending June 30, 2024. This is compared to a loss of approximately RMB 10.5 million for the six months ending June 30, 2023. The board of directors believes that the main reason for the decline in the group's performance is (including): a significant increase in administrative expenses compared to the corresponding period, which is due to (1) an increase in office space and staff compared to the corresponding period; (2) the group's acquisition of Peking Wan De during the period.
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