Xingyun Technology Expects Up to Sevenfold Increase in H1 Profit

MT Newswires Live

07/08

Xingyun Technology (SHE:300209) expects attributable profit to surge 433% to 699% to between 10 million yuan and 15 million yuan in the first half from 1.9 million yuan in the year-ago period, according to a Wednesday filing with the Shenzhen bourse.

The cross-border e-commerce company forecasts revenue to soar 511% to 605% to between 260 million yuan and 300 million yuan from 42.6 million yuan a year earlier.

The company attributed the forecast to a "rapid" development of its computing power business, as well as higher e-commerce revenue.

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