Chanjet Information Technology Co., Ltd. Class H (HK:1588) has released an update.
Chanjet Information Technology Co., Ltd. anticipates a 20% revenue increase in the first half of 2024 compared to the previous year, driven by a significant 33-37% boost in cloud subscription income, which now represents over 65% of total revenue. Despite this growth, the company expects to record a loss of RMB 5-15 million due to non-operational factors such as the absence of gains from disposals and fair value losses on investments, contrasting with the prior year’s profit of RMB 18.14 million. The overall business operation remains positive with a substantial decrease in loss from operations and an increase in paying enterprise users for their cloud services.
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