Infinities Technology International Expects Increased Losses

Infinities Technology International (Cayman) Holding Limited (HK:1961) has released an update.

Infinities Technology International (Cayman) Holding Limited has issued a profit warning, alerting shareholders and potential investors to an expected loss of between RMB18 million and RMB22 million for the six months ending June 30, 2024. This anticipated loss is substantially higher than the RMB10.5 million loss recorded in the same period of the previous year, primarily due to increased administrative expenses and research and development costs associated with new office premises, staff, professional service fees, and the development of multiplayer mobile games.

For further insights into HK:1961 stock, check out TipRanks’ Stock Analysis page.