Zhitong Financial APP News, Ruixin Holdings (01399) released interim results for the six months ended June 30, 2023, with a turnover of 2.645 billion yuan (RMB, the same below), a decrease of 16.1% over the same period last year. The company owner should share a loss of 14.29 million yuan, compared with a profit of 14.214 million yuan in the same period last year.
It is reported that during the review period, the turnover of about 2.473 billion yuan (2022: 3.021 billion yuan) came from the ODM business division, accounting for about 93.5% of the group's consolidated turnover (2022: 95.9%). Revenue from the ODM business division fell 18.2%, mainly due to a decline in mobile battery sales due to reduced demand from smartphone manufacturing customers. The turnover of about 62.5 million yuan (2022: 73.8 million yuan) comes from the cell business division, accounting for about 2.4% of the group's consolidated turnover (2022: 2.3%). The revenue of the cell business division decreased by 15.3%, mainly due to reduced market demand and increased competition.