Phoenix New Media Hong Kong shares | Yuanzheng Technology (02488) announced that the Group expects to make an unaudited consolidated profit of not less than RMB 90 million for the year ended December 31, 2021, compared with an audited consolidated loss of approximately RMB 120 million for the same period in 2020.
The announcement said that the company turned from loss to profit mainly due to good growth in overseas and e-commerce business and slightly effective cost control, which led to an increase in revenue and a reduction in expenses.