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

CTOnews.com November 21 news, Huami Technology today released its results for the third quarter of 2022, which ended September 30. Huami Technology's third-quarter revenue was 1.2 billion yuan ($169.5 million), down 24.9% from a year earlier, according to the financial report. Huami posted a net loss of 17.1 million yuan, compared with a net profit of 49.3 million yuan a year earlier.

Third quarter results:

Equipment shipments were 5.8 million, down 41.4 percent from 9.9 million in the same period last year.

Revenue was 1.2 billion yuan ($169.5 million), down 24.9% from a year earlier.

The gross profit margin was 19.1%, compared with 20.2% in the same period last year and 17.9% in the second quarter of 2022.

Expenditure on R & D was 127.4 million yuan, an increase of 17.2% over the same period last year.

The expenditure on sales and marketing was 123.9 million yuan, an increase of 36.5% over the same period last year.

General and administrative expenses were 52.7 million yuan, down 14.8% from the same period last year.

Operating expenses were 303.9 million yuan, an increase of 16.3% over the same period last year.

The operating loss was 73.3 million yuan, compared with an operating profit of 62.5 million yuan in the same period last year.

The net loss attributed to Huami was 17.1 million yuan, compared with a net profit of 49.3 million yuan in the same period last year.

As of September 30, 2022, Huami had 1.0057 billion yuan ($141.4 million) in cash, cash equivalents and restricted cash, compared with 1.5095 billion yuan as of December 31, 2021.

CTOnews.com learned that Huami Technology expects net revenue of 1.1 billion yuan to 1.35 billion yuan in the fourth quarter of 2022, compared with 1.66 billion yuan in the same period last year.

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