Zhi Xing Technology: Expected to lose approximately 177.86 million RMB in the first half of the year.

Jin10 Data, August 15th - Zhixing Technology (01274.HK) announced on the Hong Kong Stock Exchange that the group expects to record a loss before tax of approximately 177.86 million RMB for the first half of the year, compared to a loss before tax of approximately 98.60 million RMB for the six months ending June 30, 2024, representing an increase of approximately 80.39%. Due to the demand from original equipment manufacturers, the company’s revenue is unevenly distributed between the first and second halves of the year, with a larger shipping demand concentrated in the second half, resulting in a decrease in revenue for the first half compared to the same period last year. The company has further increased its investment in the research and development of self-developed new products and autonomous driving technology, leading to an increase in research and development expenses.