Venustech Releases Q1 2023 Report
Revenue CNY 788M, Up 39.56% YoY
On the evening of April 25th, Venustech released its Q1 2023 report, which showed a significant increase in revenue. The company achieved operating revenue of CNY 788 million in the first quarter, a YoY increase of 39.56%. The net loss attributable to shareholders of the listed company was CNY 65.73 million, a significant narrowing of 32.60% from the same period last year.
The company continued to invest in research and development, with R&D expenses reaching CNY 246 million in the first quarter, a year-on-year increase of 5.43%. Sales expenses were CNY 272 million, a decrease of 12.04% from the same period last year, and management expenses were CNY 50 million, a decrease of 9.65% from the same period last year. The three expenses totaled CNY 568 million, a decrease of 5.01% from the same period last year, with a decrease in growth rate of 28.91 percentage points.
During the reporting period, the company effectively promoted strategic collaboration with China Mobile, continued to layout emerging business segments and technology innovation, reduced costs and increased efficiency, optimized marketing strategies, and actively seized the gradually releasing demand-side market potential.