This evening, Huami Technology released its third-quarter earnings report for 2019 as of September 30. It turns out the company’s revenue was RMB 1,862.5 million ($260.6 million), a year-on-year increase. 73.3%.
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The financial report showed that the net profit attributable to the company was RMB 203.3 million ($28.4 million). In the same period last year, it was RMB 113.8 million ($16.24 million). Not according to US GAAP, the adjusted net profit attributable to Huami was RMB 209.8 million (US$29.4 million), an increase of 56.3% year-on-year.
Huami’s Q3 2019 financial and operating highlights
- Revenue of RMB1,862.5 million ($260.6 million), an increase of 73.3% from the third quarter of 2018.
- Gross margin of 25.2%, compared with 26.7% for the third quarter of 2018.
- Net income attributable to Huami Corporation of RMB203.3 million (US$28.4 million). In the third quarter of 2018, it was RMB113.8 million.
- Basic and diluted net income per American depositary share (“ADS”) attributable to ordinary shareholders of Huami Corporation of RMB3.31 (US$0.46) and RMB3.15 (US$0.44), respectively.
- Adjusted net income attributable to Huami Corporation of RMB209.8 million (US$29.4 million).
- Adjusted basic and diluted net income per ADS attributable to ordinary shareholders of RMB3.41 (US$0.48) and RMB3.25 (US$0.45), respectively.
In total, the company shipped 13.7 million units in the third quarter. Say, in the same period last year, it shipped 8.2 million units.
‘Our persistent execution of strategic initiatives focused on product diversification, brand elevation, and international expansion, continues to pay off, driving outstanding top-line and bottom-line growth in the third quarter,’ said Wang Huang, Chairman and CEO. ‘Our revenue performance was primarily the result of the strong sales of both the Mi-Band 4 and our newly released Amazfit products. The international shipments keep on climbing, underpinned by our first international product launch event in Berlin, Germany and numerous global product design awards we received.’