On November 13th, Wuxin Technology released its unaudited financial report for the third quarter of 2023, showing a net revenue of 430 million yuan in the third quarter, an increase of 13.2% month on month and a decrease of 59% year on year. Under non US GAAP, the adjusted net profit for the third quarter was 200 million yuan, a month on month increase of 129% and a year-on-year decrease of 39.9%.
According to Lu Chao, CFO of Wuxin Technology, In the third quarter, our efforts to improve profitability and optimize costs continued to achieve results. In the third quarter, non US GAAP operating losses continued to narrow, and non US GAAP net profit margin also showed signs of recovery. At the same time, the company's operating cash flow has been positive for two consecutive quarters, reflecting the resilience of the company's business in the new regulatory environment. In the future, the company will continue to be committed to Enhance financial performance and create long-term value for shareholders