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Kunlun Tech's Q3 Net Profit Surged 68.45%

2021-11-01 15:03:00

On October 29, Kunlun Tech Co., Ltd. (hereinafter referred to as Kunlun Tech, stock code: 300418. SZ) disclosed its 2021Q3 report. Data show that in the first three quarters, the Company's revenue rose 14% to CNY 3.57 billion regarding all existing businesses under the same statistical specifications; it realized a net profit of CNY 2.49 billion, among which, CNY 2.25 billion was attributable to the listed company shareholders; its non-net profit was 55.6% higher than a year earlier; and a 68.45% hike was seen in its Q3 net profit to arrive at CNY 1.246 billion.

Upon transfer of equity of its subsidiary GrindrInc., the Company recognized non-recurring profit and loss of CNY 2.95 billion last year, thus resulting in a big base for calculating net profit. Making no allowance for the figure, the Company may see a sharp increase of 57% in its net profit attributable to listed company shareholders for the first three quarters, which is indicative of the Company's robust and sustainable profitability.

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