9F Inc. Rebounds to Profit Despite Revenue Drop
Company Announcements

9F Inc. Rebounds to Profit Despite Revenue Drop

9F (JFU) has released an update.

9F Inc., a technology service provider listed on NASDAQ, reported a significant 45.1% decline in net revenues for the first half of 2024 compared to the same period in 2023, citing reduced technical service demand and e-commerce sales. On a positive note, the company saw a turnaround to profitability with a net income of RMB 12.5 million, contrasting with a net loss in the previous year, thanks to effective cost control measures. Cash reserves saw a decrease, primarily due to investments in marketable securities, while restricted cash increased due to funds received for investment in securities.

For further insights into JFU stock, check out TipRanks’ Stock Analysis page.

Related Articles
TheFly9F Inc to implement ADS ratio change
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App