AInnovation Reports Decline in Interim Revenue

Qingdao AInnovation Technology Group Co. Ltd Class H (HK:2121) has released an update.

AInnovation Technology Group Co., Ltd reported an unaudited consolidated interim revenue of RMB 571,704 thousand for the first half of 2024, a noticeable decrease from RMB 923,851 thousand in the same period last year. The company experienced an operating loss and a net loss during the period, but when adjusted for share-based payment expenses and other factors, the adjusted net loss saw a slight improvement. There was also a significant change in revenue sources, with a notable shift from system integrators to end-users.

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