BRIEF: Flowing Cloud swings to loss in first half of 2025
Augmented reality and virtual reality services provider Flowing Cloud Technology Ltd. (6610.HK) said on Monday that it expects to report a loss of between 100 million yuan ($14 million) and 130 million yuan for the first half of this year, reversing a 63.5 million yuan profit a year earlier.
The company attributed the loss primarily to a 108.2 million yuan decrease in revenue from its AR/VR marketing services compared to the year-ago period. Additionally, after an internal assessment of trade receivables recoverability, the company expects its impairment losses to increase by 90 million yuan year-on-year. Meanwhile, increased efforts to promote the company’s business and platform pushed up sales and distribution expenses by approximately 59.2 million yuan during the reporting period from a year earlier.
Shares of Flowing Cloud opened down 9% at HK$0.25 on Tuesday. The stock is down over 60% from its 52-week high.
By Lau Chi Hang
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