Glacier Network: Expected pre-loss of 410 million to 510 million yuan in the first three quarters, a year-on-year turnaround from profit to loss

On October 11th, Glacier Network announced that it is expected to have a net loss of RMB 410 million to RMB 510 million in the first three quarters before 2024, with a profit of RMB 217 million in the same period last year, turning from profit to loss. Among them, the third quarter is expected to have a net profit attributable to the parent of RMB 36 million to RMB 54 million, a year-on-year decrease of 1.19% to 34.13%. As of September 30, 2024, the non-recurring profit and loss of the company during the reporting period was about RMB 31 million, mainly government subsidies and deposit interest income.