Summary by Futu AI
Feitian Cloud Motion Technology Co., Ltd. ("Feitian Cloud Motion") announced its unaudited interim performance for the six months ended June 30, 2024. The report shows that the company's revenue decreased by 25.2% to RMB 448,013 thousand from RMB 598,956 thousand in the same period last year, and gross profit decreased by 36.1% to RMB 125,239 thousand from RMB 196,059 thousand. Pre-tax profit decreased by 39.3% to RMB 74,435 thousand from RMB 122,577 thousand, and net profit for the period decreased by 45.4% to RMB 63,473 thousand from RMB 116,316 thousand. Basic earnings per share decreased from 6.4 RMB cents to 3.5 RMB cents. Faced with declining domestic market demand and economic challenges, the company actively expands overseas markets and invests in the metaverse and artificial intelligence fields, while strengthening organizational development and talent cultivation. During the reporting period, the company made progress in AR/VR marketing services and content services, and launched the virtual human live platform "FT Live", providing new power to the virtual human live broadcasting market.
