Inkeverse Group Surges Over 28% Amid Profit Turnaround
M+ Global Updates 27/03/2024 15:01

Influenced by positive earnings growth, Inkeverse Group Limited ($INKEVERSE 03700.HK$) opened substantially higher today and soared over 28% in morning trading session, briefly reaching a four-month peak of HK$1 and bringing its market value to HK$1.7 billion.

As of 14:43 GMT+8, the company's stocks are trading 14:10% higher at HK$0.89.

In 2023, the company reported total revenue of CNY6.84 billion, an 8.3% increase year-over-year, with a net profit of CNY400 million, marking a dramatic turnaround from a loss and an increase of 337.8%. Adjusted net profit, excluding non-cash expenses such as share-based compensation, stood at approximately CNY430 million, up by 9.9%.

Inkeverse Group preemptively capitalized on the micro-series market in 2022, securing a leading position in the industry. In 2023, revenue from its micro-series business segment contributed CNY960 million, accounting for 14% of the group's total revenue.


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