Revenue in the first half of FY2017 decreased by 66% from the previous corresponding period due to both a strategic decrease in sales of merchandise and transactional discounting to further increase user activity and retention.
FY17 FY16
Revenue from ordinary operations 41,347,672 123,406,663
RMB- so divide by 6
Losses grew from profit or $400k to
(Loss) / Profit from Ordinary Operations after Income Tax Expense
The Company’s loss of RMB 22.8 million is a direct reflection of its market expansion strategy specifically: (i) Promotional activity discounting;
(ii) Increased selling and distribution expenditure; iii
(iii) Business development staff costs.
NNW Price at posting:
7.0¢ Sentiment: None Disclosure: Not Held
