Grlook August 22, homeland itl (03798.HK) announced that the group's revenue for the six months ended June 30, 2024 is expected to be approximately RMB 0.8357 billion, a decrease of about 12.4% from the six months ended June 30, 2023; as well as the group's estimated profit for the six months ended June 30, 2024 is approximately RMB 33.7 million, a decrease of over 90.0% from the six months ended June 30, 2023.

The board of directors believes that the above-mentioned decrease is attributed to: (i) In the first half of 2023, the group's active users increased significantly, leading to higher revenue for the six months ended June 30, 2023; (ii) In the first half of 2024, both the group's channel costs and interconnection costs increased, resulting in a significant increase in sales costs; and (iii) In the first half of 2024, in order to deal with increasingly intense industry competition, the group increased its market promotion efforts to maintain market share.