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

On November 23, CTOnews.com, Yunmi today released its results for the third quarter of 2022, which ended September 30. Yunmi's third-quarter net revenue was 685.8 million yuan ($96.4 million), compared with 1.0565 billion yuan a year earlier, down 35% from a year earlier.

The net loss attributable to common shareholders was 79.6 million yuan ($11.2 million), compared with a net loss of 29.3 million yuan a year earlier, according to the financial report. Excluding Non-GAAP, the net loss attributable to common shareholders was 78.7 million yuan ($11.1 million), compared with a net loss of 22.2 million yuan a year earlier.

Yunmi's cumulative number of household users reached about 7.4 million, compared with about 7.2 million by the second quarter of 2022 and 6.3 million by the end of the third quarter of 2021. The proportion of household users with at least two networking products is 22.3%, compared with 22.0% by the second quarter of 2022 and 21.1% by the end of the third quarter of 2021.

Financial results for the third quarter: net revenue was 685.8 million yuan ($96.4 million), compared with 1.0565 billion yuan in the same period last year.

Gross profit was 135.9 million yuan ($19.1 million), compared with 239.7 million yuan a year earlier. The gross profit margin was 19.8%, compared with 22.7% in the same period last year.

Overall operating expenses were 242.5 million yuan ($34.1 million), down 16.5% from 290.3 million yuan in the same period last year.

The net loss attributable to common shareholders was 79.6 million yuan ($11.2 million), compared with a net loss of 29.3 million yuan a year earlier.

Excluding Non-GAAP, the net loss attributable to common shareholders was 78.7 million yuan ($11.1 million), compared with a net loss of 22.2 million yuan a year earlier.

As of September 30, 2022, Yunmi's cash and cash equivalents totaled 760.1 million yuan ($106.9 million), restricted cash was 65 million yuan ($9.1 million), and short-term deposits were 83.7 million yuan ($11.8 million). Short-term investment of 2.595 yuan ($3650).

CTOnews.com learned that Yunmi said the decline was mainly due to continued adjustments in some categories of product portfolios and overall weakness in consumer spending.

Chen Xiaoping, founder and CEO of Yunmi, said: "the resurgence of the COVID-19 epidemic in China in the third quarter of 2022 has led to various forms of uncertainty in the macro environment. As a result, overall market demand remains weak and our total revenue is lower than we expected. However, despite external challenges, we have made good progress in product innovation, brand promotion and channel expansion in the past few months. With the support of our effective and long-term brand and product development strategy, we continue to strengthen our 'trend technology' brand positioning. "

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