FLJ GROUP Reports Q2 FY2023 Earnings Results for August 2nd
August 14, 2023
🌥️Earnings Overview
FLJ GROUP ($NASDAQ:FLJ) reported its earnings results for the second quarter of FY2023, ending August 2, 2023, with total revenue of CNY 199.7 million, a decrease of 45.2% from the same quarter in the prior year. Net income for the quarter was CNY -43.3 million, an improvement from -243.2 million the year before.
Share Price
On Wednesday, August 2nd, FLJ GROUP reported their Q2 FY2023 earnings results. The stock opened at $0.2 and closed at $0.2, representing a decrease of 1.2% from the previous closing price on the same day. Furthermore, the company also announced that it had repurchased $1 million in shares of its common stock during the quarter. This move was aimed at rewarding shareholders and increasing shareholder value.
Overall, it was a positive quarter for FLJ GROUP who have seen steady growth in their overall revenue and net income in recent quarters. They have also demonstrated a commitment to shareholders through share repurchases which indicates a positive outlook for the company’s future performance. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Flj Group. More…
| Total Revenues | Net Income | Net Margin |
| 487.79 | 1.02k | -105.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Flj Group. More…
| Operations | Investing | Financing |
| -37.52 | -11.47 | 38.3 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Flj Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 515.4 | 1.12k | -3.22 |
Key Ratios Snapshot
Some of the financial key ratios for Flj Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -27.4% | – | 211.8% |
| FCF Margin | ROE | ROA |
| -7.7% | -109.3% | 125.3% |
Analysis
At GoodWhale, we’ve conducted a thorough analysis of FLJ GROUP’s fundamentals and the results are in. Our Star Chart reveals FLJ GROUP has a low health score of 2/10 in regards to its cashflows and debt, indicating it may be less likely to sustain future operations in times of crisis. Interestingly, FLJ GROUP is classified as an ‘elephant’, a type of company we deem to have a lot of assets after liabilities are deducted off. With this in mind, it’s possible that investors who are looking for an asset-rich company may be interested in FLJ GROUP. However, it should be noted that FLJ GROUP is strong in liquidity and weak in assets, dividend, growth, and profitability. More…
Peers
All of these companies offer services that range from financial consulting to customer service, but FLJ Group Ltd stands out with its innovative and comprehensive approach to business solutions.
– Appreciate Holdings Inc ($NASDAQ:SFR)
Appreciate Holdings Inc is a New York-based asset management firm established in 2023. The company provides a range of financial services and investment strategies to its clients. Appreciate Holdings Inc has a market capitalization of 15.92M as of 2023. This reflects the total value of the company’s outstanding shares, which are traded on the stock market. Appreciate Holdings Inc also has a Return on Equity (ROE) of 0.13%. This ratio reflects how well the company is able to generate profitability from its equity investments.
– Kangqiao Service Group Ltd ($SEHK:02205)
Kangqiao Service Group Ltd is a leading service provider in China. The company specializes in providing a wide range of services ranging from property development, retail, and leisure activities to cultural and business services. As of 2023, Kangqiao Service Group Ltd has a market cap of 511M and a Return on Equity of 7.44%. This market capitalization reflects the company’s strong and growing presence in the industry, with its ability to deliver consistently high returns on equity. The company’s strong financials are also indicative of the potential for continued growth.
– Dowell Service Group Co Ltd ($SEHK:02352)
Dowell Service Group Co Ltd is a diversified service group that operates mainly in China. It has a market cap of 535.26M as of 2023, indicating that the company has a relatively large size in the market. Its Return on Equity (ROE) of 15.44% indicates that the company is able to generate profit from its shareholders’ equity, which is a good sign for investors. The company provides a wide range of services including construction, real estate development, financial services, information technology and energy services. Its diversified service offerings allow it to generate steady revenue streams from different sources.
Summary
Investors should take note of FLJ Group‘s second quarter earnings results for FY2023, ending August 2. Total revenue for the quarter was CNY 199.7 million, a 45.2% decrease from the same quarter in the prior year. Net income was CNY -43.3 million, a significant improvement from the -243.2 million reported in the same quarter of the previous year.
Despite the decrease in revenue, FLJ Group has managed to improve its net income, suggesting that its cost-cutting measures are paying off and that the company is on track for a more profitable future. Investors should consider monitoring the company’s performance going forward and use this data to inform their decisions.
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