According to the Zhitong Finance App, Huafang Group (03611) announced its interim results for the six months ended June 30, 2023. Revenue was approximately RMB 1,626 billion, a year-on-year decrease of about 34.4%. Gross profit was approximately RMB 453.6 million, a year-on-year decrease of about 29.4%. The loss attributable to the company's owners was approximately RMB 689 million, and the profit attributable to the company was approximately RMB 203 million for the same period in 2022, with a loss of 0.69 yuan per share.
Among them, revenue generated by live streaming and audio social networking decreased by 38.0% from about RMB 2.4 billion in the same period last year. As for the relevant period, it was mainly due to the challenging external environment and the Group's implementation of a more prudent business strategy throughout the year.
Revenue generated from overseas social networks increased by 55.1% from approximately RMB 81.3 million in the same period last year. As for the relevant period, it was mainly due to the Group's expansion of its overseas markets.