The company's revenue in the second quarter was 700 million yuan, down 25.3% from the same period last year, and is expected to make an overall profit this year.

Thanks to CTOnews.com netizen Rache for the clue delivery! According to news in the afternoon of September 9, Beijing time, Shuidi today released its financial results for the second quarter of 2022, which ended on June 30. The company's net revenue in the second quarter was 701.4 million yuan ($104.7 million), down 25.3 percent from 939.4 million yuan in the same period in 2021, according to the financial report. The net profit attributed to Shuidi was 206.9 million yuan ($30.9 million), compared with a net loss of 655.8 million yuan in the same period in 2021 and a net profit of 105 million yuan in the first quarter of 2022. Not in accordance with US general accounting standards, the net profit attributed to Shuidi was 232.5 million yuan ($34.7 million), compared with a net loss of 570.1 million yuan in the same period in 2021 and a net profit of 127.3 million yuan in the first quarter of 2022.

Second-quarter results: net revenue was 701.4 million yuan ($104.7 million), down 25.3% from 939.4 million yuan in the same period in 2021.

Operating costs and expenses were 545.5 million yuan ($81.4 million), down 68.9% from a year earlier and up 2.5% from a month earlier.

Operating costs were 244.6 million yuan ($36.5 million), down 6.1 percent from 260.4 million yuan in the same period in 2021.

Sales and marketing spending was 144.4 million yuan ($21.6 million), down 88.4 percent from 1.2449 billion yuan in the second quarter of 2021.

General and administrative expenses were 86.1 million yuan ($12.8 million), down 42.3 from 149.1 million yuan in the second quarter of 2021.

Spending on research and development was 70.4 million yuan ($10.5 million), down 29.8 percent from 100.3 million yuan in the second quarter of 2021.

Operating profit was 155.9 million yuan ($23.3 million), compared with an operating loss of 815.4 million yuan in the same period in 2021 and an operating profit of 116.6 million yuan in the first quarter of 2022.

The net profit attributed to Shuidi was 206.9 million yuan ($30.9 million), compared with a net loss of 655.8 million yuan in the same period in 2021 and a net profit of 105 million yuan in the first quarter of 2022.

Not in accordance with US general accounting standards, the net profit attributed to Shuidi was 232.5 million yuan ($34.7 million), compared with a net loss of 570.1 million yuan in the same period in 2021 and a net profit of 127.3 million yuan in the first quarter of 2022.

As of June 30, 2022, Shuidi had cash and cash equivalents and short-term investments of 3.2881 billion yuan ($490.9 million), compared with 2.7871 billion yuan as of December 31, 2021.

Performance outlook: Shuidi expects to achieve overall profitability in 2022 based on non-US GAAP.