Summary by Futu AI
CMGE Technology Group Limited ("CMGE") issued a profit warning, forecasting a net loss of not more than RMB 243.0 million for the six months ending on June 30, 2024, compared to a net profit of RMB 51.0 million in the same period in 2023. The decline in performance is mainly due to a decrease in non-operating other income and gains, an increase in non-operating other expenses, and a delay in the launch of the new gaming "Sword World", which led to a decrease in revenue. Nevertheless, the company's operating divisions continued to be profitable during the reporting period, and it is expected that the performance will improve in the second half of 2024 with the launch of multiple new games. CMGE will release a detailed interim performance announcement at the end of August 2024 and the board of directors urges shareholders and potential investors to exercise caution when trading shares.
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