Summary by Moomoo AI
WEIMOB INC. ANNOUNCED ITS ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2023. REVENUE FOR THE REPORTING PERIOD REACHED RMB22.28 BILLION, AN INCREASE OF 21.1% YEAR-ON-YEAR; AND RMB14.84 MILLION, A YEAR-ON-YEAR INCREASE OF 36.0%. Despite the significant increase in revenue and gross profit, the company recorded an operating loss of RMB604.3 million and a year-on-year loss of RMB761.3 million, although the loss margin decreased compared to the same period last year. The company said that China's overall economy is doing well and the digital economy is accelerating, driving solid growth in enterprise digital demand. Micro-Union Group is actively adjusting its business structure and operating cash flow has been transformed in the second half of the year. In addition, the company announced on March 6, 2024 that Shanghai Jie Information Technology Co., Ltd., will acquire an approximate 53.5% stake in Shanghai Bish Information Technology Co., Ltd., and Bai Technology will become a subsidiary of the Microleague Group. The Board of Directors has not proposed a final dividend.