FriendTimes Inc. (HK:6820) has released an update.
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FriendTimes Inc. has issued a profit warning, indicating a year-on-year revenue decrease of 14.6% to 16.2% for the first half of 2024 but notes a quarter-to-quarter increase. The company attributes the net loss during this period to the natural decline of older games and substantial marketing costs for new releases. Despite this, new games like ‘Ink Sword: Jianghu’ have performed well, and the company remains optimistic about its long-term prospects due to strong product operations and ongoing cost optimization efforts.
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