According to the Zhitong Finance App, Chuanglian Holdings (02371) announced its second interim results for the 12 months ended December 31, 2023. The group achieved revenue of 511 million yuan (RMB, same below) during the period, an increase of 56.84%; loss attributable to shareholders was 362.14 million yuan, profit attributable to shareholders during the same period last year was 13.523 million yuan, year-on-year profit and loss; basic loss of 0.54 points per share.

According to the announcement, during the reporting period, the two divisions accounted for a similar share of the Group's business. Among them, the financial services business accounted for about 61.8% and the education services business accounted for about 38.2%. Due to a decline in demand for online training courses, the Group's revenue from the education services business declined during the reporting period as a result.

Revenue from the financial services business increased substantially, mainly due to the expansion of the insurance brokerage business to more cities in China. As the education services business has entered a steady growth path, the Group has begun to expand its financial services business, particularly the insurance brokerage business in mainland China. The Group invests more resources to expand the market share and regional coverage of the insurance brokerage business to provide life insurance, property insurance and reinsurance solutions through different promotion channels. As a result, revenue from the insurance brokerage business increased significantly during the reporting period, and management expects the Group's financial services business to continue to grow in the future.