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Jefferies Adjusts Chanjet Information Technology's Price Target to HK$11.54 From HK$9.51, Keeps at Buy
Chanjet Information Technology Swings to H1 Loss
Chanjet (01588) released its interim performance with a net loss of 9.879 million yuan.
Chanjet (01588) released its six-month performance ending on June 30, 2024, with revenue of 0.453 billion yuan (RMB)...
Chanjet Reports Revenue Growth Amidst Net Loss
Chanjet (01588.HK) achieved a revenue of 0.453 billion yuan in the first half of the year, with cloud subscription revenue accounting for 68%.
Glory Times reported on August 22nd that chanjet (01588.HK) announced its interim performance. In the first half of 2024, the group achieved a revenue of 452.88 million yuan, an increase of 21% from the same period last year. Among this, cloud subscription revenue was 307.85 million yuan, a 35% increase from the same period last year, accounting for 68% of the total revenue. The cloud subscription contract liability at the end of the reporting period was 644.96 million yuan, a 21% increase from the end of the previous year. During the reporting period, the group achieved a gross profit of 327.13 million yuan, a 33% increase from the same period last year. The loss attributable to the owners of the parent company was recorded.
Chanjet (01588.HK) half-year profit turned into a loss of 9.879 million RMB.
Chanjet (01588.HK) announced its interim performance as of the end of June this year, with revenue of 0.453 billion yuan (same below), up 20.6% year-on-year. The profit turned into a loss of 9.879 million yuan, compared to a profit of 18.135 million yuan in the same period of the previous year; resulting in a loss per share of 3.1 cents. No mid-term dividends were distributed.
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