According to Zhitong Financial App, Meijiayin Holdings (06939) announced its interim results for the six months ended June 30, 2023. Group revenue was RMB 87.058 million (same unit), an increase of about 14.7% over the previous year; net profit of 149.32 million yuan, a year-on-year decrease of about 25.3%; and profit of 0.029 yuan per share.
The announcement stated that the decrease in net profit was mainly due to (i) the slow recovery of the semiconductor industry, where material costs rose due to supply chain constraints, which led to a decline in gross margin; and (ii) the resumption of sales activities after easing COVID-19 prevention measures.