The latest update is out from Flowing Cloud Technology Ltd. ( (HK:6610) ).
Flowing Cloud Technology Ltd. has issued a profit warning, projecting a significant decline in revenue and a shift from profit to loss for the year ending December 31, 2024. The downturn is attributed to reduced budgets from internet advertisement customers, increased traffic costs, heightened competition in AR/VR content, and elevated promotion and R&D expenses. The company advises caution to shareholders and investors as the final annual results may differ from preliminary estimates.
More about Flowing Cloud Technology Ltd.
Flowing Cloud Technology Ltd. operates within the augmented reality and virtual reality (AR/VR) space, providing marketing services and content. The company has a focus on internet advertising and is expanding into emerging markets with its extended reality content.
YTD Price Performance: 4.69%
Average Trading Volume: 7,875,554
Technical Sentiment Consensus Rating: Buy
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