Brief News: Core business demand declines, Lens reports a loss in the first quarter
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Lens Technology Co., Ltd.; announced its Q1 2023 performance, with revenue decreasing by 17.13% year-on-year to 14.14 billion yuan, and a net loss of 149.6 million yuan, compared to a profit of 429 million yuan in the same period last year. After deducting non-recurring gains and losses, the net loss was 174 million yuan, with financial expenses surging to 252 million yuan, mainly due to exchange losses. The company stated that the decline in performance was affected by weakened demand in its core business, with reduced revenue from smartphones and computers. The stock price opened lower on Thursday, reported at HKD 16.88, down 14.14%
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