Duiba Group Limited ("duiba") has issued a profit warning, expecting that the revenue for the six months ending June 30, 2024 will not be less than approximately RMB 450 million, a decrease from approximately RMB 708.4 million in the same period in 2023. At the same time, the company expects the adjusted period loss and the loss attributable to the owner of the parent company during that period to not exceed approximately RMB 20 million, while it recorded approximately RMB 24 million in adjusted profit and approximately RMB 22.1 million in profit attributable to the owner of the parent company in the first half of 2023. The decrease in profit is mainly due to uncertainty in industry growth leading to tightening budgets of advertising clients, and increased costs in...Show More

Duiba Group Limited ("duiba") has issued a profit warning, expecting that the revenue for the six months ending June 30, 2024 will not be less than approximately RMB 450 million, a decrease from approximately RMB 708.4 million in the same period in 2023. At the same time, the company expects the adjusted period loss and the loss attributable to the owner of the parent company during that period to not exceed approximately RMB 20 million, while it recorded approximately RMB 24 million in adjusted profit and approximately RMB 22.1 million in profit attributable to the owner of the parent company in the first half of 2023. The decrease in profit is mainly due to uncertainty in industry growth leading to tightening budgets of advertising clients, and increased costs in internet advertising business to provide better quality advertising services. Duiba reminds shareholders and potential investors that the above financial data has not been reviewed or audited by independent auditors, and recommends caution when trading the company's securities. The company will release a more detailed mid-term performance announcement by August 30, 2024, or earlier.