Summary by Moomoo AI
UNIFY FINTECH GROUP ISSUED A PROFIT WARNING THAT EXPECTED EQUITY SHAREHOLDERS TO RECORD A NET LOSS OF BETWEEN RMB455 MILLION AND $465 MILLION FOR THE FULL YEAR 2023, A SIGNIFICANT INCREASE FROM APPROXIMATELY RMB13 MILLION IN THE SAME PERIOD IN 2022. The main factors in widening losses include a decrease in gross profit margin, an increase in R&D expenses, an increase in impairment losses on financial assets and an increase in losses for invested companies. In addition, the company expects an adjusted loss to range between RMB295 million and $305 million, compared with an adjusted profit of about RMB196 million in the previous year. The company has taken steps to address the challenges and remains confident in its long-term growth prospects. The Board of Directors reminds shareholders and potential investors not to rely on unaudited preliminary data and to exercise caution when trading stocks.