Changes in Hong Kong stocks | Xiying-W (00625) fell more than 6% to a record low in the first half of the year, adjusted net profit, and the two major markets weakened simultaneously

The Zhitong Finance App learned that Xiying-W (00625) fell by more than 6%, hitting a new low of HK$33.1 since listing. As of press release, it fell 6.07% to HK$33.14, with a turnover of HK$8.194,500.

According to news, on the evening of September 28, Xiying announced its first interim results since listing. Net revenue for the first half of the year was US$20.34 billion, up only 1% year on year; operating profit was US$493 million, down 52.9% year on year; adjusted net profit was 499 million US dollars, down 55.6% year on year. Looking at the second quarter alone, net revenue was US$11.082 billion, up 0.9% year on year, and adjusted net profit was US$228 million, down 66.6% year on year. The company expects the external environment to remain uncertain in the second half of this year, and tariff headwinds and logistics cost fluctuations may continue. Despite this, the fourth quarter is still the most important promotion window, which is expected to drive a significant increase in order volume.

Notably, the company's second-quarter fulfillment costs were US$5.587 billion, up 18% year on year, and the fulfillment fee rate rose to 50.4%. The company said it was mainly due to increased order volume and rising oil prices and freight costs due to the conflict in Iran. Furthermore, the two major markets in Europe and the US weakened simultaneously. In the second quarter, Europe's net revenue fell 13.9% year on year to US$3.77 billion. The company explained that sales declined due to active price increases and cuts in online advertising expenses in anticipation of the cancellation of tariff exemptions; US net revenue fell 6% to US$2,474 billion during the same period.