Communication Author: Chendi Qian Editor: Luke Sheehan Jul 31, 2020 07:00 PM (GMT+8)

The net profit in the first half of 2020 is expected to be CNY 55 million-85 million.

Image credit: Nicolas LB/Unsplash

Recently, livestreaming firm Inke (3700: HKEX) announced (in Chinese) that the expected revenue for the first half 2020 is nearly CNY 2.2 billion (USD 310 million). The revenue growth rate exceeded 45%-50% year-on-year, and the net profit after tax was CNY 55-85 million (USD 7.85 - 12.13 million). Regarding the substantial growth in performance, Inke said that the rapid increase in revenue from innovative products and the steady income of Inke’s live app are the main reasons.

Since its launch in 2018, Inke has continuously increased its investment in new products and technologies, using its advantages to create a complete audio and video product matrix.

In June 2020, in addition to social functions, Inke’s Jimu, a social platform targeting young users, will be combined with Inke’s live streaming functions to create a trendy and avant-garde live streaming that belongs to the Z generation.

Besides, Inke’s online dating and matchmaking app, Duiyuan, has quickly taken a seat on the first tier of the social dating sector.