Qingdao AInnovation Technology Group Full Year 2023 Earnings: Misses Expectations

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).

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 12% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Software industry in Hong Kong.

Performance of the Hong Kong Software industry.

The company's shares are down 26% from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Qingdao AInnovation Technology Group, and understanding them should be part of your investment process.

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