BRIGHT FUTURE (01351) issues profit warning, expecting that the company's owners will incur a loss of no less than approximately 4.7 million yuan in 2024, turning from profit to loss year-on-year.

BRIGHT FUTURE (01351) announced that the group is expecting a net loss attributable to owners of the company of not less than approximately RMB 4.7 million in 2024, a decrease of about 131.8% compared to the net profit attributable to owners of the company of approximately RMB 14.8 million for the year ended December 31, 2023. The announcement stated that the decline in performance is mainly due to rising service costs, particularly the increase in advertising traffic costs corresponding to revenue growth, along with discounts provided to customers, leading to a decrease in gross profit; and due to the cancellation of value-added tax offset and a reduction in government subsidies in the industry in which the group operates in 2024, resulting in a decrease in other income. The group will continue to implement cost reduction and efficiency improvement measures next year, strengthen budget and cash flow control, strive to increase operational efficiency, optimize resource allocation, and enhance profitability.