Qian Xun Technology sees revenue and profit surge from e-commerce push

Qian Xun Technology Limited reported unaudited consolidated interim results for the six months ended June 30, 2025, with revenue skyrocketing to RMB647,384,000, an 864.8% increase from RMB67,144,000 in the corresponding period of 2024. This substantial growth was primarily attributed to the e-commerce business of used electronic products, which contributed approximately RMB625,700,000 in revenue during the reporting period, following an acquisition in August 2024. Gross profit also increased significantly to RMB27,634,000 from RMB4,954,000.

Profit before tax reached RMB52,808,000, up from RMB9,527,000 in the previous year, with other income, gains and losses contributing RMB46,328,000, largely due to a one-off gain on deconsolidation of RMB45,344,000. Total comprehensive income for the period was RMB51,468,000, a substantial increase from RMB5,366,000 in 2024. Basic earnings per share rose to 9.19 RMB cents from 1.31 RMB cents.

The company's total assets grew to RMB745,054,000 as of June 30, 2025, compared to RMB459,186,000 at December 31, 2024. The gearing ratio increased from 53.3% to 97.2%, mainly due to the issuance of convertible bonds with an aggregate principal amount of HK$256,630,000 in February 2025. The proceeds from these bonds were allocated to overseas expansion, PRC operations development, repayment of bank borrowings, and general working capital for the e-commerce business.