FY FINANCIAL issued a profit warning, expecting a net loss of approximately 2 to 3 million yuan in the mid-term
FY FINANCIAL issued a profit warning, expecting a net loss between 2 million and 3 million RMB for the six-month interim period ending on June 30, 2024, while the net profit for the same period last year was about 110,000 RMB. The loss is mainly due to increased expenses in salaries and costs resulting from the company's expansion of energy storage business and newly launched cross-border e-commerce business
According to the news from Zhitong Finance APP, FY FINANCIAL (08452) announced that the group is expected to incur a net loss ranging from approximately RMB 2 million to 3 million for the six months ending on June 30, 2024 (net profit for the six months ending on June 30, 2023: approximately RMB 110,000).
The expected net profit turning into a loss during the reporting period is mainly due to an increase in personnel in the energy storage business leading to increased related compensation and expenses, as well as the addition of personnel for a new cross-border e-commerce business by the group resulting in increased related compensation and expenses
