Homeland Interactive Technology Ltd. (HK:3798) has released an update.
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Homeland Interactive Technology Ltd. reported a significant decrease in their interim financial results for the first half of 2024, with revenue dropping by 12.4%, gross profit by 35.6%, and profit for the period plummeting by 91.6% compared to the same period in 2023. The company’s adjusted net profit also saw a sharp decline of 90.6%. The decline was attributed to lower revenue from both self-developed and third-party mobile games, as well as a nearly 50% drop in advertising revenue.
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