Qingdao AInnovation Technology Group Full Year 2023 Earnings: Misses Expectations

Simply Wall St

March 29, 2024

Qingdao AInnovation Technology Group (HKG:2121) Full Year 2023 Results

Key Financial Results

Revenue: CN¥1.75b (up 12% from FY 2022).
Net loss: CN¥582.3m (loss widened by 60% from FY 2022).
CN¥1.05 loss per share (further deteriorated from CN¥0.66 loss in FY 2022).

earnings-and-revenue-growth — SEHK:2121 Earnings and Revenue Growth March 29th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Qingdao AInnovation Technology Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates by 127%.

Looking ahead, revenue is forecast to grow 47% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Software industry in Hong Kong.

Performance of the Hong Kong Software industry.

The company's shares are up 9.1% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. See our latest analysis on Qingdao AInnovation Technology Group's balance sheet health.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.