Feiyu Technology Forecasts H1 2024 Net Loss

Feiyu Technology International Company Ltd. (HK:1022) has released an update.

Feiyu Technology International Company Ltd. has issued a profit warning, anticipating a net loss of RMB 1-8 million for the first half of 2024, contrasting sharply with a net profit of RMB 40.9 million in the same period last year. The loss is attributed to an investment loss in an unlisted limited partnership, matured game revenues, and delays in launching new HTML5 games due to quality enhancements. Despite the setback, the company remains optimistic about its future performance with several new games slated for release later in the year.

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