9F (JFU) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
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.