YH Entertainment Group (HK:2306) has released an update.
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YH Entertainment Group has issued a positive profit alert, indicating an expected net profit of RMB20 million to RMB40 million for the first half of 2024, a significant turnaround from the net loss of RMB175.4 million in the same period of the previous year. The improvement is attributed to the absence of fair value loss related to convertible preferred shares and reduced listing expenses since their January 2023 listing, as well as a decrease in share-based payments. Shareholders and potential investors are advised to exercise caution and await the official interim results announcement due in August 2024.
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