Huami technology’s revenue in the third quarter was 2.235.1 billion yuan, up 20% year on year

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Sina science and technology news Beijing time on November 23 afternoon news, huami technology( Nasdaq:HMI )Revenue for the third quarter of 2020, up 20% from a year earlier, was 2235.1 million yuan (US $329.2 million) released today. The net profit attributable to huami was 81.1 million yuan, compared with 203.3 million yuan in the same period of last year. The adjusted net profit attributable to huami was RMB 120.8 million, which was RMB 209.8 million in the same period of the previous year.
Third quarter results:
The total equipment shipment volume was 15.9 million units, 16.1% higher than 13.7 million units in the same period of last year.
Revenue was 2235.1 million yuan (about 329.2 million U.S. dollars), an increase of 20% year-on-year.
The gross profit margin was 20.6%, compared with 25.2% in the same period last year.
R & D expenditure was 172.9 million yuan, up 38.8% year-on-year, accounting for 7.7% of revenue, compared with 6.7% in the same period of last year.
Sales and marketing expenditure was 115.6 million yuan, up 104.2% year-on-year, accounting for 5.2% of revenue, compared with 3.0% in the same period of last year.
General and administrative expenses were 91 million yuan, up 30.8% year on year, accounting for 4.1% of revenue and 3.7% in the same period of last year.
The overall operating expenditure was 379.5 million yuan, up 51.3% year-on-year; accounting for 17.0% of revenue, compared with 13.5% in the same period of last year.
Operating profit was 80.6 million yuan, down 63.2% from 219.1 million yuan in the same period of last year.
The net profit attributable to huami was 81.1 million yuan, compared with 203.3 million yuan in the same period of last year.
The net profit of RMB 20.08 billion in the same period of last year was RMB 20.08 billion, which was not attributable to China accounting standards.
As of September 30, 2020, huami had cash and cash equivalents of RMB 2555.6 million (approximately US $376.4 million), compared with RMB 1803.1 million as of December 31, 2019.
Performance Outlook:
Huami expects net revenue in the fourth quarter of 2020 to reach 1.95 billion yuan to 2.15 billion yuan, compared with 2.11 billion yuan in the same period last year.
Teleconferencing:
Huami management team will hold a financial report conference call at 7:30 a.m. on November 23 (8:30 p.m. Beijing / Hong Kong time, November 23). The telephone numbers to listen to the conference call are as follows:
USA (free): 1-888-346-8982
International: 1-412-902-4272
Mainland China (free): 400-120-1203
Hong Kong, China (free): 800-905-945
Hong Kong, China + 852-3018-4992
Huami Corporation access
In addition, huami technology website investor relations channel http://www.huami.com/investor The teleconference will be webcast and recorded.