Sinnet reports revenue dip, plans capital boost for new projects

** Beijing Sinnet Technology (SZSE:300383) reported a (CNY)381.44 million net profit on revenues of (CNY)7.28 billion for fiscal 2024, a revenue decrease of 7.31% year-over-year, primarily due to decreased revenues in both IDC and Cloud operations, while costs increased. As the economy began to recover, 2024 saw the continued expansion of its cloud infrastructure operations, in line with its strategy to focus on data center and high-performance computing segments.