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

CTOnews.com August 24 news, Yunmi today released the first half of 2023 financial results as of June 30. Net revenue in the first half of 2023 was 1.3044 billion yuan ($179.9 million), compared with 1.6364 billion yuan a year earlier, according to the financial report. The net loss attributable to common shareholders was 54.9 million yuan ($7.6 million), compared with a net loss of 89.6 million yuan a year earlier. Non-GAAP net loss attributable to common shareholders was $53.7 million ($7.4 million), compared with a net loss of $75.6 million a year earlier.

Operating results for the first half of 2023:

The cumulative number of household users reached approximately 8.1 million, compared with approximately 7.2 million for the same period in 2022.

The percentage of households with at least two connected products was 22.9%, compared to 22.0% in the same period in 2022.

Financial results for the first half of 2023:

Net revenue was 1.3044 billion yuan ($179.9 million), compared with 1.6364 billion yuan a year earlier.

Gross profit was 286.8 million yuan ($39.6 million), compared with 391.5 million yuan a year earlier. Gross profit margin was 22.0%, compared to 23.9% in the same period last year.

Overall operating expenses were 361.8 million yuan ($49.9 million), down 30.3 percent from 519.4 million yuan a year earlier.

R & D spending was 109.5 million yuan ($15.1 million), down 31.0 percent from 158.7 million yuan a year earlier.

Sales and marketing expenses were 213.5 million yuan ($29.4 million), down 33.4 percent from 320.7 million yuan a year earlier.

General and administrative expenses were 38.8 million yuan ($5.4 million), down 2.8 percent from 39.9 million yuan a year earlier.

The operating loss was 68.2 million yuan ($9.4 million), down 43.6 percent from an operating loss of 120.9 million yuan a year earlier.

Non-GAAP operating loss was 66.9 million yuan ($9.2 million), compared with a year-ago operating loss of 106.9 million yuan.

The net loss attributable to common shareholders was 54.9 million yuan ($7.6 million), compared with a net loss of 89.6 million yuan a year earlier.

Non-GAAP net loss attributable to common shareholders was $53.7 million ($7.4 million), compared with a net loss of $75.6 million a year earlier.

Chen Xiaoping, founder and CEO of Yunmi, said: "In the first half of 2023, due to the downturn in consumer sentiment and the company's strategic adjustment, our total revenue was RMB 1.3 billion, down 20% year-on-year, and gross profit margin decreased by 1.9 percentage points year-on-year. At the same time, however, we optimized our product mix by focusing on core product categories, increasing the revenue share of water purification products from 17% in the first half of 2022 to 22% in the same period of 2023. We believe that optimizing our product portfolio will benefit our long-term sustainability. In addition, we streamlined our organizational structure and improved operational efficiency, narrowing our net loss in the first half of 2023, reducing operating expenses by 30.3% and net loss ratio by 1.4 percentage points year-on-year. "

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