Homeland Interactive Technology Expects Up to 90% Decline in H1; Shares Plunge 23%

MT Newswires Live08-22

Homeland Interactive Technology (HKG:3798) expects a profit of about 33.7 million yuan for the six months ended June 30, representing a 90% decrease compared to that of the previous year, according to a Thursday filing on the Hong Kong bourse.

The company attributed the expected profit decrease to slower active user growth compared with the previous year, increased sales costs, and increased marketing costs to retain market shares.

The online cards and board games business plans to publish its interim results on Aug. 28.

The company's shares were down by nearly 23% in recent trading.

Price (HKD): $0.92, Change: $-0.22, Percent Change: -19.30%

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