Inkeverse Group Issues Profit Warning Amid Investment Revaluation

The latest announcement is out from Inke Ltd. ( (HK:3700) ).

Inkeverse Group Limited has issued a profit warning for the fiscal year ending December 31, 2024, indicating a slight increase in revenue to approximately RMB6.84 billion to RMB6.87 billion, but a significant decline in profit to not more than RMB240 million compared to the previous year. The decline is attributed to a non-cash loss of approximately RMB90 million to RMB130 million from the revaluation of its investment business, which is expected to streamline operations and focus resources on new development strategies. Despite stable principal business and cash flow, the company faces challenges from intense competition in the internet industry, impacting profit margins.

More about Inke Ltd.

Inkeverse Group Limited, incorporated in the Cayman Islands, operates in the internet industry with a focus on maintaining its principal business scale amidst keen competition. The company is engaged in investment business, including equity interests and investment properties, and aims to streamline its operations to enhance long-term sustainability.

YTD Price Performance: -21.48%

Average Trading Volume: 1,161

Technical Sentiment Consensus Rating: Sell

Current Market Cap: €399.9M

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