According to the announcement from FY Financial (08452), the group is expected to incur a net loss ranging from approximately RMB 2 million to 3 million for the six months ended on June 30, 2024 (net profit of approximately RMB 0.11 million for the six months ended on June 30, 2023).

The expected net profit for the reporting period changed from profit to loss mainly due to the increase in personnel and related expenses in the energy storage business; and the addition of personnel in a new cross-border e-commerce business launched by the group resulting in increased personnel and related expenses.