Livestreaming e-commerce and new media marketing company Be Friends Holding Ltd. (1450.HK) forecast on Wednesday it would report a net profit of 86 million yuan ($12.7 million) to 93 million yuan for the six months through June, up 52.6% to 65% from 56.4 million yuan a year earlier.
The company attributed the increase to ongoing development of its livestream e-commerce business during the period. It further expanded its multi-platform network of livestreaming channels and strengthened its capabilities in category-specific broadcasts.
Be Friends added that the ongoing rollout of an AI-powered livestreaming system across its entire operating process helped improve both content production and operational efficiency, driving the profit increase.
Shares of the company opened higher on Thursday before reversing course, and traded at HK$0.93 by the midday break, down 2.11%. The stock has gained about 32.9% over the past month.
By Lee Shih Ta
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