Huami Technology (Nasdaq: HMI) today released the second-quarter financial report as of June 30, the revenue of 1.0387 billion yuan (about $151.3 million), an increase of 36.6 %. Net profit attributable to Huami was RMB 89.4 million (approximately $13 million) compared to RMB 85.5 million in the same period last year. The adjusted net profit attributable to Huami was RMB 111.7 million ($16.3 million), an increase of 10.0% over the same period of the previous year.
Revenue was RMB 1,388.7 million ($151.3 million), a year-on-year increase of 36.6%.
The gross profit margin was 26.7%, compared with 25.9% in the same period last year.
Net profit attributable to Huami was RMB 89.4 million (approximately $13 million) compared to RMB 85.5 million in the same period last year.
The basic and diluted earnings per share attributable to ordinary shareholders were RMB 1.46 ($0.21) and RMB 1.39 ($0.20), respectively, compared with RMB 1.42 ($0.21) for the same period last year and RMB 1.35 (about $0.20).
Not according to US GAAP, the adjusted net profit attributable to Huami was RMB 111.7 million ($16.3 million), an increase of 10.0% over the same period of the previous year.
Not according to US GAAP, the basic and diluted earnings per share attributable to ordinary shareholders were RMB 1.83 ($0.27) and RMB 1.73 ($0.25), compared with RMB 1.69 for the same period last year (about $0.26) and RMB1.61 (about $0.24).
Total equipment shipments were 8.3 million units, compared with 5.4 million units in the same period last year.
Revenue was RMB 1,838.3 million ($267.8 million), a year-on-year increase of 36.6%.
The gross profit margin was 26.9%, compared to 25.5% in the same period last year.
Net profit attributable to Huami was RMB 164.6 million (approximately $ 24 million), compared to RMB 100.3 million for the same period last year.
The basic and diluted earnings per share attributable to ordinary shareholders were RMB 2.71 (approximately $ 0.39) and RMB 2.56 (approximately $ 0.37).
Not according to US GAAP, the adjusted net profit attributable to Huami was RMB 206.7 million ($30.1 million), an increase of 6.5% over the same period of the previous year.
Not according to US GAAP, the basic and diluted earnings per share attributable to ordinary shareholders were RMB 3.40 ($0.50) and RMB 3.21 ($0.47), respectively, compared with RMB 3.63 for the same period last year (about $0.55) and RMB 3.16 (about $0.48).
Total equipment shipments were 13.9 million units, compared to 10.1 million units in the same period last year.
Revenue was RMB 1,388.7 million ($151.3 million), an increase of 36.6% compared with RMB 760.1 million in the same period last year.
The revenue cost was RMB 761.4 million (approximately $110.9 million), an increase of 35.2% compared with RMB 563.3 million in the same period last year.
Gross profit was RMB 277.3 million ($40.4 million), an increase of 40.8% compared with RMB 196.9 million in the same period last year. The gross profit margin was 26.7%, compared to 25.9% in the same period last year.
Total operating expenses were RMB 185.2 million (approximately $ 27 million) compared to RMB 97.9 million for the same period last year.
R&D expenditure was RMB 93.8 million (approximately $13.7 million), an increase of 111.4% compared with RMB 44.4 million in the same period last year.
General and administrative expenses were RMB 51 million (approximately $ 7.4 million), an increase of 55.6% compared with RMB 32.8 million in the same period last year.
Sales and marketing expenses were RMB 40.4 million ($5.9 million), an increase of 95.2% compared with RMB 20.7 million in the same period last year.
Operating profit was RMB 92.1 million (approximately $13.4 million) while operating profit for the same period last year was RMB 99 million.
Profit before tax was RMB 101.3 million (approximately $14.8 million), while profit before tax for the same period last year was RMB 101.4 million.
Income tax expense was RMB12.4 million (approximately $1.8 million), compared to RMB 15.9 million for the same period last year.
The net profit attributable to Huami Ordinary Shareholders was RMB 89.2 million (approximately $13 million), compared to RMB 80.8 million in the same period last year.
Net profit attributable to Huami was RMB 89.4 million (approximately $13 million) compared to RMB 85.5 million in the same period last year.
The basic and diluted earnings per share attributable to ordinary shareholders were RMB 1.46 ($0.21) and RMB 1.39 ($0.20), respectively, compared with RMB 1.42 ($0.21) for the same period last year and RMB 1.35 (about $0.20).
Not according to US GAAP, the adjusted net profit attributable to Huami was RMB 111.7 million ($16.3 million), an increase of 10.0% from RMB 101.6 million in the same period last year.
Not according to US GAAP, the basic and diluted earnings per share attributable to ordinary shareholders were RMB 1.83 ($0.27) and RMB 1.73 ($0.25), compared with RMB 1.69 for the same period last year (about $0.26) and RMB1.61 (about $0.24).
As of June 30, 2019, Huami had cash and cash equivalents of RMB 1,455.1 million ($211.2 million), and as of December 31, 2018, it was RMB 1,441.8 million.
Huami expects net revenue in the third quarter of 2019 to reach RMB 1.64 billion to 1.67 billion, an increase of 52.6% to 55.4% compared with RMB 1.747 billion in the same period last year.
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