China's Qian Xun Technology H1 revenue plunges on weakness in e-commerce business

Qian Xun Technology

18/08/2026 10:32

Overview
China pre-owned electronics platform's interim revenue fell 62% on weaker e-commerce sales
Company posted a net loss of RMB123.4 mln versus profit a year earlier
Drop in revenue driven by subsidy scheme and US-Iran conflict impacting demand and prices

Outlook
Company anticipates rebound in pre-owned E-commerce business in H2 2026
Company expects more favourable outlook for advertising and other services in H2 2026
Company says impact from subsidy scheme and US-Iran conflict expected to be temporary

Result Drivers
SUBSIDY SCHEME IMPACT - Co said government subsidy scheme narrowed price gap between new and used electronics, sharply reducing unit selling prices and hurting pre-owned E-commerce revenue
US-IRAN CONFLICT - Co said higher freight costs and weakened demand for used electronics from US-Iran conflict contributed to drop in E-commerce sales
IMPAIRMENT PROVISION - Co recorded RMB76.8 mln impairment provision on trade receivables and other financial assets, further impacting results

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 243.30 mln
 
H1 Net Loss Attributable
 
RMB 123.35 mln
 

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Press Release s3://eap-prd-eu-west-1-source-content/eap_feed_proxy/fingerpost/HKSW/2026-08-18/6510e5ce-3f1b-454c-91ff-6f6ef9236e3c.file
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)