![]() ![]() General and administrative expenses increased by RMB10.4 million, or 153.1%, from RMB15.9 million for the six months ended Septemto approximately RMB26.3 million (US$4 million) for the six months ended September 30, 2022. General and administrative expenses consist of salary and benefits to the Company's accounting, human resources, design and executive office staff, rental expenses, property management and utilities, office supplies and other expenses. Operating expenses increased by RMB8 million, or 49%, from RMB16.3 million for the six months ended Septemto approximately RMB24.3 million (US$3.4 million) for the six months ended September 30, 2022. Overall gross profit margin for the six months ended Septemwas approximately 9.9%, or 1.67% higher, as compared to gross profit margin of 8.2% for the same period of 2021. ![]() Gross profit for the six months ended Septemwas approximately RMB12.6 million (US$1.8 million), representing an increase of RMB4.3 million, or 52.2%, from the gross profit of RMB8.3 million for the same period of 2021, as a result of factors discussed above. The increase was in line with the increase in sales volume. The increase was primarily attributable to the increase in OEM/ODM sales orders from Mexico, which represented over 21% of our revenue.Ĭost of sales for the six months ended Septemwas approximately RMB115.2 million (US$16.2 million), an increase of RMB22.5 million, or 24.1%, from RMB92.7 million for the same period of 2021. Revenue for the six months ended Septemwas approximately RMB127.8 million (US$18 million), an increase of RMB26.7 million, or 26.5%, from RMB101.1 million for the same period of 2021. Consequently, our revenue was affected by fluctuations in the exchange rate between US dollar and RMB.įirst Six Months of Fiscal Year 2023 Financial Results The exchange rate between the RMB and US Dollar considerably affected the Company's financial results, as more than 50% of our products were sold to customers outside of mainland China. ![]() The increase in net loss was mainly due to an increase of selling expenses, R&D expenses and general and administration expenses, partially offset by an increase in gross profit. Net loss reached approximately RMB15.6 million (US$2.2 million), compared to net loss of RMB9.3 million during the same period last year, representing a 67% increase. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |