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.

Disclaimer:

The content is provided as general information only and should not be taken as investment advice. All the contents shall not be taken as a recommendation to buy or sell any security or financial instruments. Any action you take resulting from information, analysis, or commentary on this article is your responsibility. Please consult your investment advisor before making any investments.

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