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On October 17, Toread disclosed that it anticipates its net profit attributable to the parent company for the first three quarters to range from RMB 30 million to RMB 36 million. This projection signifies a substantial year-on-year decline of 64.62% to 70.51%, in stark contrast to the RMB 102 million profit recorded during the same period last year. The key factors contributing to this downturn in performance are as follows: The outdoor business segment faced challenges due to the prevailing market environment and the introduction of new product iterations, causing sales to fall below expectations. Meanwhile, despite an overall upward trend in the chip business, it was adversely affected by exchange rate fluctuations, with the resultant exchange gains and losses exerting a negative influence on overall performance.
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