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Yunmi posted a net loss of 39.6 million yuan in the second quarter, and revenue fell 44% year-on-year after stopping the sale of millet products.

Shulou Source: shulou.com Published: 2023-11-24 10:13:56 11月12日 Update

Thanks to CTOnews.com netizen soft media user 1661855 for the clue delivery! CTOnews.com August 22 news, Yunmi Technology released the second quarter of 2022 financial report as of June 30, during the reporting period, Yunmi achieved revenue of 924 million yuan, a year-on-year decline of 44%.

Net loss attributable to common shareholders was $39.6 million, compared with a net profit of $46.1 million for the same period last year; net loss attributable to common shareholders was $33.9 million, compared with a net profit of $59.5 million for the same period last year.

The cumulative number of household users reached approximately 7.2 million, compared with approximately 6.9 million at the end of the first quarter of 2022 and approximately 5.9 million at the end of the second quarter of 2021.

The percentage of households with at least two connected products reached 22.0%, compared to 21.8% at the end of Q1 2022 and 20.7% at the end of Q2 2021.

CTOnews.com understands that Yunmi said net revenue was in line with the company's previous guidance. The main reasons for this decline are:

Sales of Xiaomi brand sweeping robots were completely interrupted this year, as well as a higher base of comparison in the same period last year.

Some product portfolios are being adjusted.

Revenue from the IoT @ Home portfolio decreased 54.2% to RMB524.5 million (US$78.3 million) from RMB1,146.3 million in the second quarter of 2021. The main reason for the decline was the complete disruption of sales of Xiaomi brand sweeping robots and SKU adjustments in some categories.

Research and development expenses increased by 20.4% to RMB79.7 million (US$11.9 million) from RMB66.2 million in the second quarter of 2021, mainly due to an increase in research and development experts and related compensation and expenses, as well as increased investment in new product research and development.

As of June 30, 2022, the Company had cash and cash equivalents of RMB816.3 million (US$121.9 million), restricted cash of RMB46.8 million (US$7 million), short-term deposits of RMB10 million (US$1.5 million) and short-term investments of RMB237 million (US$35.4 million), compared with RMB587 million, RMB35.8 million, RMB0 and RMB828.9 million as of December 31,2021.