On August 5th, 2024, Heesung Group (Stock Code: 2473) released the latest financial information, announcing its unaudited comprehensive management accounts for the six months ended June 30th, 2024. According to preliminary assessments, the Group expects its mid-year revenue for 2024 to be no less than RMB 650.0 million, an increase compared to RMB 601.0 million in the same period of 2023. However, it is expected that the company's profit attributable to owners for the same period will decrease from RMB 62.4 million in mid-2023 to no less than RMB 19.0 million. The main reason for the decline is that the fair value changes in redeemable ordinary shares with profit increase in mid-2023, but those shares have been changed to ordinary shares, and the option costs generated by the pre...Show More

On August 5th, 2024, Heesung Group (Stock Code: 2473) released the latest financial information, announcing its unaudited comprehensive management accounts for the six months ended June 30th, 2024. According to preliminary assessments, the Group expects its mid-year revenue for 2024 to be no less than RMB 650.0 million, an increase compared to RMB 601.0 million in the same period of 2023. However, it is expected that the company's profit attributable to owners for the same period will decrease from RMB 62.4 million in mid-2023 to no less than RMB 19.0 million. The main reason for the decline is that the fair value changes in redeemable ordinary shares with profit increase in mid-2023, but those shares have been changed to ordinary shares, and the option costs generated by the pre-public offering share purchase plan offset part of the profit in mid-2024. These expenses are non-cash in nature and have no impact on operating cash flow. The company emphasizes that this information has not been reviewed or audited by auditors or audit committees, and actual financial information may differ. Shareholders and potential investors should note that the company will announce detailed mid-term performance in mid-August 2024.