Gelonghui, November 22nd丨oneforce hldgs (01933.HK) announced that for the six months ending September 30, 2024, the group expects to record revenue of approximately 0.18 billion to 0.19 billion yuan, while the same period last year recorded revenue of approximately 0.25 billion yuan. The group expects a shareholder loss of approximately 13 million to 15 million yuan during the reporting period, compared to a profit of approximately 2.8 million yuan in the same period last year. The decline in revenue and the shift from profit to loss during the reporting period is mainly due to the following reasons:

The decline in revenue during the reporting period is mainly due to a decrease in the number of projects. To strengthen cash flow management, the group reduced projects with longer payment cycles.

The shareholder loss during the reporting period was due to: (i) adjustments in quotes for new projects to gain long-term clients due to intensified market competition; and (ii) an increase in impairment losses and financial costs.

Although there was a shareholder loss during the reporting period, the group maintains a robust business operation. The board of directors holds a positive outlook on the group’s performance for the upcoming fiscal year. The group will continue to focus on technology product research and development as well as talent development, enhancing technological and product competitiveness, seizing opportunities in the energy internet and new infrastructure sectors in mainland china, and creating greater value for shareholders.