On July 26, Gelonhui announced that Jmgo Technology (688696.SH) expects to achieve a net income attributable to the owner of the parent company of 36.731 million yuan in the first half of 2024, a decrease of 89.0543 million yuan compared to the same period last year, a decrease of 96.04% year-on-year. The net profit attributable to the owner of the parent company, excluding non-recurring gains and losses, is -15.2683 million yuan, a decrease of 73.7865 million yuan compared to the same period last year, a year-on-year decrease of 126.09%.
In the first half of 2024, affected by macroeconomic factors and other factors, the domestic projection market consumer demand still under pressure. In the face of multiple challenges, the company actively responds, launches a series of new products to enhance the overall competitiveness of its products, and launches the portable projection Play5 priced at less than 2,000 and the eye-protecting three-color laser cloud platform projection RS10 series that covers multiple price bands in the first half of 2024. At the same time, the company is committed to expanding sales channels, firming up its brand going global and global strategy. During the reporting period, the growth in overseas revenue drove the company's overseas revenue ratio to continue to increase, offsetting the impact of weak domestic demand on overall revenue. In the first half of 2024, the company's overall revenue scale was basically flat year-on-year, while driving up the sales gross margin quarter-on-quarter improvement.
Due to the impact of clearing out some old products from inventory, the company's sales margin rate decreased compared with the same period last year during the reporting period, leading to a year-on-year decline in net income and negative net income excluding non-recurring gains and losses. The company will optimize resource allocation, promote continuous improvement in revenue structure and gross margin rate, launch more differentiated and competitive products in domestic and foreign markets, and continue to promote refined management and daily operational cost reduction to improve operational efficiency.