CONFIDENCE IN issued a profit warning, expecting mid-term net profit not to exceed approximately 3 million yuan, a year-on-year decrease
CONFIDENCE IN issued a profit warning, expecting that the interim net profit for the period ending June 30, 2025, will not exceed approximately HKD 3 million, a year-on-year decrease of about 77%. The main reasons are a decrease in revenue and gross profit of approximately 16.2% and 44.4%, respectively, due to the termination of cooperation with several clients, failure to achieve favorable sales prices, and unavoidable fixed costs
According to the announcement from Xinkeng Intelligent (01967), compared to the net profit of approximately RMB 13 million for the six months ending June 30, 2024, the group expects to achieve a net profit of no more than approximately RMB 3 million for the six months ending June 30, 2025. The decrease in net profit during the reporting period is mainly due to a decrease in revenue and gross profit of approximately 16.2% and 44.4%, respectively, primarily because the group terminated cooperation with several clients due to its inability to reach favorable sales prices with those clients; and gross profit decreased along with the reduction in revenue, while certain fixed costs remained unavoidable
