Studying Lang (02385.HK)'s mid-term revenue fell by about 51.5% to 126 million yuan

Gelonghui Finance ·  Aug 20, 2023 06:41

On August 20, 02385.HK announced that the company's revenue decreased by about 51.5% to 125.9 million yuan in the six months ended June 30, 2023. The decrease is mainly due to a decrease in sales of personal tablets and wearable products by students, due to: (I) the domestic economy is affected by the international environment, and product sales are negatively affected to a certain extent; (ii) enterprises in other industries have joined the educational electronics industry, which has intensified the competitive pressure in the industry; and (iii) the epidemic has led some consumers to adopt a more cautious attitude towards consumption, resulting in lower-than-expected product sales.

Gross profit margin rose from 25.6% in mid-2022 to 38.6% in mid-2023, mainly due to higher profit margins on new products and increased sales share of self-owned online platforms. In mid-2023 and mid-2022, the company recognized a net loss of RMB37.9 million and a net loss of RMB42.4 million, respectively.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment