Customer relations management (CRM) services provider Xuan Wu Cloud Technology Holdings Ltd. (2392.HK) said on Wednesday it expects to report its net loss narrowed by 95% or more last year from its 71.8 million yuan ($9.9 million) loss in 2023.
It attributed the improvement to increases in its overall gross profit and gross profit margin on growth for its CRM SaaS services, which are among its most profitable businesses. It also credited a decrease in selling and distribution and administrative expenses as a result of cost control measures.
Shares of Xuan Wu Cloud opened up 1% at HK$1.07 on Thursday and continued to rise, up nearly 4% in the afternoon. The shares are up over 70% from their low over the past six months.
By Lau Chi Hang
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