QIAN XUN TECH (01640) announced its interim results for the six months ended June 30, 2025. The group achieved revenue of RMB 647 million during the period, representing a year-on-year increase of 864.17%. Profit attributable to owners reached RMB 51.469 million, up 859.17% year-on-year, with basic earnings per share of 9.19 cents.
The announcement stated that the explosive revenue growth was primarily attributable to the second-hand electronics e-commerce business acquired by the company in August 2024, which recognized approximately RMB 626 million in revenue during the reporting period.
QIAN XUN TECH has actively innovated in the second-hand 3C e-commerce business sector, achieving efficient recovery of second-hand 3C products through diversified recovery channels including online platform recovery, channel self-service machine recovery, and city operation center self-operated store recovery. The QIAN XUN Premium city operation center has been officially operating for three months, completing model testing with monthly cash flow and net profit turning positive.
Meanwhile, leveraging advanced AI technology and the SaaS platform "Fenhao Cloud," QIAN XUN TECH provides one-stop services for second-hand digital trading including precise quotations, intelligent co-selling, and inventory management, significantly enhancing transaction efficiency and turnover efficiency.
As part of the group's strategic efforts to diversify revenue base and expand into new markets, the group has made further progress in expanding second-hand electronics e-commerce business and providing SaaS services in mainland China and other countries. During the reporting period, the e-commerce business contributed approximately RMB 626 million in revenue. The e-commerce business has become the company's largest source of revenue and profit.
2025 will be a crucial year for the group's "strategic transition." The group plans to use the high growth of second-hand e-commerce business to offset the weakness in advertising business in the short term, stabilizing the fundamental base. In the medium term, it aims to achieve cost restructuring and efficiency enhancement through supply chain optimization and AI technology utilization. In the long term, it seeks to build a triangular barrier of "technology + supply chain + finance" to become a benchmark enterprise in the circular economy.