(Financial information: October 19, 2023) Huaqin Technology Group Co., Ltd. (NASDAQ: CLPS) announced financial reports for the second half of fiscal year 2023 (January 1, 2023 to June 30, 2023) and the full year of 2023 (July 1, 2022 to June 30, 2023). In the second half of fiscal year 2023, revenue decreased from US$76.1 million in the same period last year to US$73.6 million, a year-on-year decrease of US$2.5 million and a year-on-year decrease of 3.3%. In the second half of fiscal year 2023, net loss was 1.2 million US dollars, net loss for the same period last year was 1.9 million US dollars, net loss attributable to Huaqin Technology shareholders was 1.1 million US dollars, and net loss attributable to Huaqin Technology shareholders for the same period last year was 1.8 million US dollars.

For the full year of fiscal year 2023, revenue decreased from US$152 million in the same period last year to US$150.4 million, down US$1.6 million year on year and 1.1% year on year. The main reason for the decline in revenue was the reduction in demand for custom IT solution services. For the full year of fiscal year 2023, net profit decreased from 4.6 million US dollars in the same period last year to 170,000 US dollars, a year-on-year decrease of 4.4 million US dollars, and a year-on-year decrease of 96.4%. Net profit attributable to Huaqin Technology shareholders was 190,000 US dollars, and net profit attributable to Huaqin Technology shareholders for the same period last year was 4.5 million US dollars. For fiscal year 2024, revenue growth is expected to be in the range of 10% to 15%, and non-GAAP net profit growth is expected to be in the range of about 12% to 17% compared to fiscal year 2023.