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Flowing Cloud Navigates Market Challenges
Express News | Flowing Cloud Technology H1 Gross Profit RMB 125.2 Million
Express News | Flowing Cloud Technology H1 Capex RMB 3.6 Million
FLOWING CLOUD: INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED JUNE 30, 2024
Flowing Cloud Technology Forecasts Revenue Dip
Feitian Cloud Motion (06610.HK) expects a decrease of approximately 45% in net income for the mid-term.
Feitian Cloud (06610.HK) announced on August 23rd that for the period ending June 30, 2024, the group expects to record (i) a decrease in income of about 25% compared to the period ending June 30, 2023; and (ii) a decrease in net income of about 45% compared to the period ending June 30, 2023. The decrease in income and net income during the period is mainly attributable to the following factors: (i) the overall reduction in budget for internet advertising clients due to macroeconomic influences, resulting in a decrease in revenue from augmented reality and virtual reality (AR/VR) marketing services; and (ii) higher traffic costs.
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