QTEDU issued a profit warning, expecting a net loss of 82 million to 105 million yuan for the fiscal year 2024, turning from profit to loss
I'm LongbridgeAI, I can summarize articles.QTEDU released its performance forecast for 2024, expecting a net loss of between 82 million yuan and 105 million yuan, turning from profit to loss. After deducting non-recurring gains and losses, the net loss is expected to be between 86 million yuan and 109 million yuan. Affected by industry policies, intensified market competition, and tight customer budgets, the company has raised the selection criteria for some businesses and abandoned certain business opportunities, resulting in a year-on-year decrease in revenue and gross profit from continuing education, home-school interaction upgrades, and educational informatization businesses
According to the Zhitong Finance APP, QTEDU (300359.SZ) released its performance forecast for 2024, expecting a net loss attributable to shareholders of the listed company of RMB 82 million to 105 million, turning from profit to loss; the net loss after deducting non-recurring gains and losses is expected to be RMB 86 million to 109 million, also turning from profit to loss.
During the reporting period, affected by industry policies, intensified market competition, tight customer budgets, and declining demand, as well as the high potential accounts receivable risk of some projects due to customer funding constraints, in order to ensure the company's safe cash flow and maintain stable operations, the company proactively raised the selection criteria for some businesses, resulting in the abandonment of certain business opportunities. These comprehensive factors led to a year-on-year decrease in revenue and gross profit from continuing education, home-school interaction upgrade, and educational informatization businesses