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Chanjet Information Technology H1 Loss Shrinks 42%

MT Newswires ·  {{timeTz}}

07:13 AM EDT, 09/29/2022 (MT Newswires) -- Chanjet Information Technology's (HKG:1588) loss attributable to shareholders of the parent saw a 42% decrease during the first half of 2022.

The company's attributable loss stood at 78.5 million yuan ($11.0 million), or 0.262 yuan per diluted share, down from a loss of 134.5 million yuan, or 0.453 yuan per share in 2021 first half.

Revenue saw a 56% boost as it grew to 335.1 million yuan in the interim period from 214.7 million yuan the previous year.

The decrease in loss was attributed to the promotion of the company's cloud service business development, the substantial increase in revenue, and a smaller increase in R&D, sales, distribution, and administrative expenses year over year.

Price (HKD): $4.42, Change: $-0.80, Percent Change: -15.33%

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