Zhitong Finance App News, Huashi Group Holdings (01111) announced that the Group's net profit for the year ended December 31, 2023 is expected to increase by about 38% to 48% compared to the Group's net profit for the year ended December 31, 2022.

According to the announcement, the main reason for the increase in the Group's net profit was the increase in the Group's revenue in fiscal year 2023. In fiscal year 2023, the Group continued to improve its business development capabilities, resulting in (i) an increase in the number of new customers providing advertising services; and (ii) an increase in rebates from media partners brought about by these new customer launches. Revenue from the provision of advertising services and rebates from media partners was approximately RMB 22 million for new customers, accounting for about 45% of the total revenue from providing advertising services and rebates from media partners in FY2023. As a result, the Group expects its main business revenue to increase in fiscal year 2023 compared to the same period last year.