Duiba Group Ltd. (HK:1753) has released an update.
Duiba Group Ltd., a company specializing in internet advertising, has issued a profit warning for the first half of 2024, projecting a significant drop in revenue and a shift from profit to a loss of no more than approximately RMB 20 million. This downturn is attributed to a shrinking advertising business due to tighter budgets and increased costs from purchasing high-quality platform traffic to enhance advertiser services. Final results are pending, with the interim results announcement to be released by 30 August 2024.
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