Doumob Expects Losses to Widen in H1

MT Newswires Live07-30

Doumob (HKG:1917) expects a net loss of about 3.7 million yuan to 4.7 million yuan for the six months ended June 30, compared with a net loss of 854,000 yuan in the previous year, according to a Monday filing on the Hong Kong bourse.

The company attributed the expected net loss to growth challenges in the live-streaming business due to the uncertainty in the global economy, a downturn in consumer sentiment, intensifying industry competition, and strategic retrenchment of the overseas advertising business, which resulted in the decline in the Company's total revenue and the increase in its net loss.

The online advertising services and online sales services provider plans to publish its interim results by the end of August.

The company's shares were down 5% at the close of trading.

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