Qian Xun Technology expects its losses last year to narrow to a maximum of 30 million yuan

Qian Xun Technology (01640.HK) expects that for the year ending last December, the net loss attributable to the company's owners will be between approximately RMB 10 million and RMB 30 million, while for the same period in 2024, the net loss is expected to be around RMB 124 million.

The board believes that the narrowing of losses during the period is mainly due to an increase in the group's gross profit; a decrease in the provision for losses on financial assets; and non-recurring income generated from the termination of the merger with a wholly-owned subsidiary.

In addition, the company expects that last year's revenue will not be less than RMB 1.49 billion, an increase of approximately 317.6% year-on-year, mainly benefiting from the second-hand e-commerce business, which recognized revenue of not less than RMB 1.44 billion