Shulou(Shulou.com)11/24 Report--

According to the news on the evening of August 25, Beijing time, Huami Technology today released its results for the second quarter of 2022, which ended on June 30. Huami Technology's second-quarter revenue was 1.1 billion yuan ($165.5 million), down 39.6 percent from a year earlier, according to the financial report. The net loss was 106.9 million yuan, compared with a net profit of 92.6 million yuan in the same period last year.

Second quarter results:

Equipment shipments were 6.3 million, down 45.2 per cent from 11.5 million in the same period last year.

Revenue was 1.1 billion yuan ($165.5 million), down 39.6% from a year earlier.

The gross profit margin was 17.9%, compared with 22.0% in the same period last year.

Expenditure on R & D was 129 million yuan, down 19.5% from the same period last year.

Sales and marketing expenditure was 108.3 million yuan, an increase of 3.4% over the same period last year.

General and administrative expenses were 71.7 million yuan, an increase of 7.9% over the same period last year.

Operating expenses were 308.9 million yuan, down 6.8% from the same period last year.

The operating loss was 110.6 million yuan, compared with an operating profit of 71.6 million yuan in the same period last year.

The net loss attributed to Huami was 106.9 million yuan, compared with a net profit of 92.6 million yuan in the same period last year.

As of June 30, 2022, Huami had 997.1 million yuan ($148.9 million) in cash, cash equivalents and restricted cash, compared with 1.5095 billion yuan as of December 31, 2021.

Performance outlook:

Huami expects net revenue to reach 1.2 billion yuan to 1.5 billion yuan in the third quarter of 2022, compared with 1.61 billion yuan in the same period last year.

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