Core Viewpoint - Feitian Cloud Movement (06610) issued a profit warning, expecting a significant loss in the first half of 2025, leading to a nearly 11% drop in stock price [1] Financial Performance - The company anticipates a loss attributable to equity holders of approximately RMB 100 million to 130 million in the first half of 2025, a substantial decline from a profit of approximately RMB 63.5 million in the same period of 2024 [1] - The expected decline in performance is primarily due to a decrease in gross profit, with revenue from augmented reality and virtual reality (AR/VR) marketing services projected to drop by approximately RMB 108.2 million compared to the mid-2024 period [1] Impairment and Expenses - The company has increased impairment losses on trade receivables by up to approximately RMB 90 million compared to the mid-2024 period, following an internal assessment of the recoverability of these receivables [1] - Sales and distribution expenses are expected to rise by approximately RMB 59.2 million, mainly due to increased marketing expenditures paid to third-party service providers, reflecting the company's efforts to enhance and promote its services and platform in the first half of 2025 [1]

Core Viewpoint - Feitian Yundong (06610) issued a profit warning, expecting a significant loss in the first half of 2025, leading to a nearly 11% drop in stock price [1] Financial Performance - The company anticipates a loss attributable to equity holders of approximately RMB 100 million to 130 million for the first half of 2025, a substantial decline from a profit of approximately RMB 63.5 million in the same period of 2024 [1] - The expected decline in performance is primarily due to a decrease in gross profit, with revenue from augmented reality and virtual reality (AR/VR) marketing services projected to drop by approximately RMB 108.2 million compared to the mid-2024 period [1] Expense Analysis - The company has increased impairment losses on trade receivables by no more than approximately RMB 90 million compared to the mid-2024 period, following an internal assessment of the recoverability of these receivables [1] - Sales and distribution expenses have risen by approximately RMB 59.2 million, mainly due to increased marketing expenditures paid to third-party service providers, reflecting the company's intensified efforts to launch and promote its services and platforms during the first half of 2025 [1]

Core Viewpoint - Feitian Cloud (06610.HK) announced a profit warning, expecting a loss of approximately 100 million to 130 million RMB for the mid-2025 period, a significant decline from a profit of about 63.5 million RMB in the same period of 2024 [1] Financial Performance - The expected loss is primarily attributed to a decrease in gross profit, mainly due to a decline in revenue from the augmented reality and virtual reality (AR/VR) marketing services, which is anticipated to decrease by approximately 108 million RMB compared to the same period in 2024 [1] - The impairment loss on trade receivables is expected to increase by no more than approximately 90 million RMB compared to the same period in 2024, following an internal assessment of the recoverability of these receivables [1] - Sales and distribution expenses are projected to increase by approximately 59.2 million RMB, primarily due to higher marketing expenses paid to third-party service providers [1]

本文源自：金融界AI电报 飞天云动(06610.HK)公布，该集团预期于2025年上半年将取得公司权益拥有人应占亏损约人民币1亿元 至1.3亿元，较2024年同期取得的利润约人民币6350万元大幅下降。 ...

Core Viewpoint - The company expects to report a significant loss for the mid-term of 2025, with estimated losses between RMB 100 million to RMB 130 million, a stark decline from a profit of approximately RMB 63.5 million in the same period of 2024 [1] Group 1: Financial Performance - The anticipated loss is primarily attributed to a decrease in gross profit, mainly due to a decline in revenue from the augmented reality and virtual reality (AR/VR) marketing services, expected to decrease by approximately RMB 108 million compared to the mid-term of 2024 [1] - The impairment loss on trade receivables is expected to increase by no more than approximately RMB 90 million compared to the mid-term of 2024, following an internal assessment of the recoverability of these receivables [1] - Sales and distribution expenses are projected to rise by approximately RMB 59.2 million, primarily due to increased marketing expenses paid to third-party service providers, reflecting the company's efforts to enhance and promote its services and platform during the mid-term of 2025 [1]

Core Viewpoint - The company expects to report a significant loss of approximately RMB 100 million to 130 million for the first half of 2025, a sharp decline from a profit of approximately RMB 63.5 million in the same period of 2024 [1] Financial Performance - The anticipated decline in performance is primarily attributed to a decrease in gross profit, mainly due to a reduction in revenue from the augmented reality and virtual reality (AR/VR) marketing services, expected to decrease by approximately RMB 108.2 million compared to the mid-2024 period [1] - The impairment loss on trade receivables is projected to increase by no more than approximately RMB 90 million compared to the mid-2024 period, following an internal assessment of the recoverability of these receivables [1] - Sales and distribution expenses are expected to rise by approximately RMB 59.2 million, primarily due to increased marketing expenses paid to third-party service providers, reflecting the company's intensified efforts to launch and promote its services and platforms during the first half of 2025 [1]

Core Viewpoint - The company, Feitian Yundong (06610), anticipates a significant loss for the first half of 2025, projecting a loss attributable to equity holders of approximately RMB 100 million to 130 million, a sharp decline from a profit of approximately RMB 63.5 million in the same period of 2024 [1] Group 1: Financial Performance - The expected loss for 2025 is primarily attributed to a decrease in gross profit, mainly due to a decline in revenue from the augmented reality and virtual reality (AR/VR) marketing services business, which is projected to decrease by approximately RMB 108.2 million compared to the mid-2024 period [1] - The impairment loss on trade receivables, following internal assessments of recoverability, is expected to increase by no more than approximately RMB 90 million compared to the mid-2024 period [1] - Sales and distribution expenses are anticipated to rise by approximately RMB 59.2 million, primarily due to increased marketing expenditures paid to third-party service providers, reflecting the company's intensified efforts to launch and promote its services and platforms during the mid-2025 period [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 本公司權益擁有人應佔虧損增加主要歸因於(i)毛利減少，主要由於本集團的增 強現實及虛擬現實(AR/VR)營銷服務業務收入下降，預期較2024年中期期間減 少約人民幣108.2百萬元；(ii)經內部評估貿易應收款項的可收回性後，該等款 項減值虧損較2024年中期期間增加不超過約人民幣90.0百萬元；及(iii)銷售及分 銷開支增加約人民幣59.2百萬元，主要由於支付予第三方服務供應商的營銷開 支增加所致，反映本集團於2025年中期期間加大力度推出及推廣本集團的服務 及平台。 – 1 – 本公司尚未敲定本集團2025年中期期間的未經審核綜合財務報表。本公告所載 資料僅基於董事會於本公告日期目前可得的資料所作出的初步評估，有關資 料未經本公司核數師或董事會審核委員會審核或審閱。本集團2025年中期期間 的實際中期業績可能有別於本公告所披露的資料。股東及潛在投資者務請參 閱本集團的中期業績公告的詳情，該公告預期 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06610 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | | 0.00001 USD | | 50,000 | | 增加 / 減少 (-) | | | | | | USD | | | | 本月底結存 | | | 5,000,000,000 | USD | | 0.00001 USD | | 50,000 | 本月底法定/註冊股本總額： USD 50,000 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 ...

Financial Performance - Revenue for 2024 was RMB 995,347 thousand, a decrease of 20.0% compared to RMB 1,244,723 thousand in 2023[11] - Gross profit for 2024 was RMB 200,036 thousand, down 52.5% from RMB 420,717 thousand in 2023[11] - The company reported a loss before tax of RMB 44,846 thousand in 2024, compared to a profit of RMB 271,671 thousand in 2023, representing a decline of 116.5%[11] - The net loss for the year was RMB 43,703 thousand, a significant drop from a profit of RMB 263,935 thousand in 2023, marking a 116.6% decrease[11] - Revenue from integrated marketing business reached RMB 179.5 million for the fiscal year ending December 31, 2024[46] - Revenue from AR and VR marketing services dropped by 32.2%, from RMB 845.1 million in 2023 to RMB 573.1 million in 2024, influenced by lower demand and a concentration of advertising platforms[62] - Revenue from AR and VR content reached RMB 211.3 million, a decrease of 36.7% year-on-year, with project numbers dropping from 170 to 115[32] - Revenue from the e-commerce sector fell significantly from RMB 84.0 million in 2023 to RMB 27.4 million in 2024 due to a reduction in advertising spending by major clients[63] - The company's revenue decreased by 20.0% from RMB 1,244.7 million in the year ending December 31, 2023, to RMB 995.3 million in the year ending December 31, 2024, primarily due to a decline in AR and VR marketing services and content revenue[60] Assets and Liabilities - Non-current assets decreased to RMB 202,255 thousand in 2024 from RMB 228,621 thousand in 2023[12] - Current assets increased to RMB 1,568,254 thousand in 2024, up from RMB 1,492,653 thousand in 2023[12] - Trade receivables increased from RMB 561.5 million as of December 31, 2023, to RMB 641.9 million as of December 31, 2024, due to longer payment cycles from customers[97] - Prepayments rose from RMB 594.0 million as of December 31, 2023, to RMB 755.4 million as of December 31, 2024, primarily due to increased prepayments for advertising traffic related to AR and VR marketing services[98] - Trade and other payables increased from RMB 148.1 million as of December 31, 2023, to RMB 253.6 million as of December 31, 2024, driven by higher procurement amounts and extended payment terms from suppliers[99] - Contract liabilities increased from RMB 13.1 million as of December 31, 2023, to RMB 29.1 million as of December 31, 2024, with revenue of RMB 13.1 million recognized related to the beginning balance of contract liabilities[100] Market and Industry Trends - The company aims to leverage technological advantages and innovative capabilities to capture the growing demand for 3D content driven by the younger generation's acceptance of virtual and real experiences[15] - The launch of products like Apple Vision Pro and Meta Quest series signifies the beginning of the "spatial computing era," creating a golden opportunity for the 3D content industry[16] - The Chinese government's focus on accelerating the development of new productive forces is expected to drive explosive growth in AR and VR/MR technology applications[14] - The company is positioned to take advantage of the increasing demand for high-precision modeling and low-latency interaction in the next generation of internet applications[15] Client and Revenue Dynamics - Domestic revenue from AR and VR marketing services decreased to RMB 428.7 million, down 42.5% from RMB 745.6 million in the previous year[28] - Overseas revenue from AR and VR marketing services increased to RMB 144.4 million, a growth of 45.0% compared to RMB 99.6 million in the previous year[28] - The number of advertising clients in the domestic market fell to 16 from 24, while the average monthly promotions per advertising product decreased from 69 to 51[29] - The number of clients decreased by 57.3% from 75 to 32, and the number of projects decreased by 32.4% from 170 to 115[33] - The company’s largest customer contributed 9.06% of total revenue for the year ended December 31, 2024, compared to 6.88% in 2023[154] Research and Development - R&D expenses increased by 64.7% from RMB 51.2 million in 2023 to RMB 84.3 million in 2024, driven by outsourced development costs related to the Flying Sky Metaverse platform[87] - The company plans to enhance product competitiveness and user experience by integrating cutting-edge technologies and exploring new application scenarios[17] Employee and Management - The company reported employee compensation totaling RMB 54.43 million for the fiscal year ending December 31, 2024, which includes salaries, bonuses, and other benefits[120] - The company has 124 full-time employees as of December 31, 2024, all located in China[120] - The group has a strong management team with extensive experience in various sectors, including technology and finance[135] - The group aims to enhance its organizational and talent management strategies under the leadership of the newly appointed Chief Human Resources Officer[135] Strategic Initiatives - The company aims to build a metaverse ecosystem through business and technology collaborations, focusing on international market expansion[17] - The company showcased its metaverse solutions at international exhibitions, attracting cooperation intentions from multiple European enterprises[21] - The company is actively participating in the standardization of the metaverse industry, contributing to national-level standard documents[24] - The company plans to enhance global market penetration and strengthen the competitiveness of AR and VR content and services through technological upgrades and content quality improvements[56] Financial Management - The company maintains a prudent treasury policy to manage its financial resources, ensuring high liquidity for future growth opportunities[113] - As of December 31, 2024, the company has no significant foreign currency risk exposure due to its operations primarily in RMB[111] - The company has no significant disputes with employees, customers, or suppliers during the reporting period[156] Shareholder Information - The total number of shares available for issuance under the post-IPO share option plan is capped at 181,000,000 shares, representing 10% of the total shares issued as of the report date[165] - The number of share options available for grant under the post-IPO share option plan as of December 31, 2024, is 108,503,000 options[165] - Mr. Wang holds 769,856,301 shares, representing 42.53% of the company, through Brainstorming Cafe Limited[184] - Both Ms. Xu and Mr. Li each hold 1,800,000 shares, representing 0.10% of the company[184] Risks and Compliance - The group has identified several key risks, including uncertainties in the Chinese SaaS industry and potential failure to improve product features to meet changing customer demands[194] - The group is committed to complying with Chinese privacy and data protection laws, although uncertainties remain[194] - The group faces intense market competition, which may hinder its ability to compete successfully with existing and future competitors[194]