GUANGZHOU, China, July 29, 2024 /PRNewswire/ -- Xuan Wu Cloud Technology Holdings Limited ("Xuan Wu Cloud" or the "Group," stock code: 2392.HK), a leading intelligent CRM service provider in China, today announced its positive alert for the six months ended June 30, 2024.
Based on the information currently available to the Board and a preliminary assessment of the unaudited consolidated management accounts of the Group for the six months ended June 30, 2024, the Group is expected to record a reduction in net loss by 60% to 70%, as compared to a net loss of approximately RMB20.2 million recorded for the corresponding period in 2023. The Board considers that the above anticipated reduction in net loss was mainly attributable to the strict cost control measures being implemented across the operating segments, resulting in significant cost reduction and efficiency improvements.
Meanwhile, the Group is expected to record an increase in revenue of a range of 20% to 25% for the six months ended June 30, 2024, as compared to the revenue of approximately RMB530.0 million for the corresponding period in 2023, primarily attributable to the strong performance of the Group's SaaS business segment, which is in line with the Company's long-term strategic direction of focusing on the SaaS business
About Xuan Wu Cloud
Xuan Wu Cloud Technology Holdings Limited ("Xuan Wu Cloud"), the largest local intelligent CRM service provider in China (stock code 2392.HK), which was successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited on 8 July, 2022. The company's domestic operating entity is Xuan Wu Technology, which has established a marketing service system covering 34 provinces and cities across China. Xuan Wu Cloud has aPaaS, cPaaS, AI, and DI platforms as technical base, with Marketing Cloud, Sales Cloud, Service Cloud as core SaaS product applications, aiming to provide customers with multi-touch, all-channel, entire business cycle management of intelligent CRM products and services.
For more information, please visit https://ir.wxchina.com.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking" statements. These forward-looking statements can be identified by terminologies such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and the negative of these words and other similar expressions or statements. Xuan Wu Cloud may also make written or oral forward-looking statements in its periodic reports to the HKEx, in its annual and interim reports to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about Xuan Wu Cloud's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statements, including but not limited to the following: Xuan Wu Cloud's strategies, future business development, and financial condition and results of operations; Xuan Wu Cloud's limited operating history; Xuan Wu Cloud's ability to develop and deliver services of high quality and appeal to clients; Xuan Wu Cloud's ability to generate positive cash flow and profits; Xuan Wu Cloud's ability to compete successfully; Xuan Wu Cloud's ability to build its brand and withstand negative publicity; and changes in client demand and government incentives, subsidies, or other favorable government policies. Further information regarding these and other risks is included in Xuan Wu Cloud's filings with the HKEX. All information provided in this press release is as of the date of this press release, and Xuan Wu Cloud does not undertake any obligation to update any forward-looking statements, except as required under applicable laws.
For investor inquiries, please contact:
Xuan Wu Cloud
Investor Relations
Email: ir@wxchina.com
source: Xuan Wu Cloud Technology Holdings Limited
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