Kidztech Holdings Limited (the "Company") announced its unaudited interim results for the six months ended June 30, 2024. The total income of the Company and its subsidiaries decreased by about 5.0% to approximately RMB 50.5 million from approximately RMB 53.1 million in the same period of 2023. During this period, the operation of the Group's China branch was affected by the downturn in the Chinese macroeconomic environment. In addition, the operation of the Group's Hong Kong branch was affected by the Russo-Ukrainian war and global inflation, resulting in a decline in orders from Chinese and overseas customers. The gross profit of the Group decreased from approximately RMB 8.8 million in the same period of 2023 to approximately RMB 8.6 million, a decrease of approximately 2.4%. The Group...Show More

Kidztech Holdings Limited (the "Company") announced its unaudited interim results for the six months ended June 30, 2024. The total income of the Company and its subsidiaries decreased by about 5.0% to approximately RMB 50.5 million from approximately RMB 53.1 million in the same period of 2023. During this period, the operation of the Group's China branch was affected by the downturn in the Chinese macroeconomic environment. In addition, the operation of the Group's Hong Kong branch was affected by the Russo-Ukrainian war and global inflation, resulting in a decline in orders from Chinese and overseas customers. The gross profit of the Group decreased from approximately RMB 8.8 million in the same period of 2023 to approximately RMB 8.6 million, a decrease of approximately 2.4%. The Group recorded a net loss of approximately RMB 17.6 million for the six months ended June 30, 2024, an increase of approximately RMB 3.4 million or 23.6% compared to the net loss of approximately RMB 14.2 million in the same period of 2023. The Group's capital debt ratio increased slightly by 3.9 percentage points to approximately 46.6%. The Group's cash and cash equivalents amounted to approximately RMB 47.3 million. The Board of Directors decided not to declare an interim dividend for the six months ended June 30, 2024.