Lanting Jishi's Q3 revenue decreased by 1.3% year-on-year, with a net loss of 6.1 million US dollars

2023-09-15
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Author:Yu Xiaoying
Source: ennews

Recently, many cross-border sellers, including Anke Innovation, Cross border Tong, Tianze Information (with a tree), Huading Holdings (Tongtuo Technology), and Xinghui Holdings (Zebao Technology), have released their financial reports for the third quarter of this year. Among them, except for Anke Innovation, the revenue of the other four companies in the third quarter decreased year-on-year20% -70%.

 

Recently, Lanting Jishi also released its financial reports for the third quarter and first nine months of this year.

 

This year, Lanting Jishi's income has remained relatively stable.According to the financial report, the revenue for the third quarter was98.7 million US dollars, compared to 100 million US dollars last year, a decrease of 1.3%.Among them, product sales revenue accounts for the majority, with96 million US dollars, compared to 95.4 million US dollars in the same period last year; Service and other income was $2.7 million, compared to $4.6 million in the same period in 2020.

 

In terms of profit, the gross profit for the third quarter was$43.9 million, compared to $43.1 million in the same period in 2020; The gross profit margin in the third quarter was 44.5%, compared to 43.1% in the same period in 2020.

 

However, operating losses6.6 million US dollars, while the operating profit for the same period last year was 1.6 million US dollars;Net loss6.1 million US dollars, compared to a net profit of 7.3 million US dollars in the same period last year;Per ADS(ADS suffered a net loss of $0.05, compared to a net income per ADS of $0.07 in the same period last year.

 

As for before this yearIn the nine month period, the revenue was 333 million US dollars, a year-on-year increase of nearly 25.5%; The net profit was 153.3 million US dollars, compared to 116.5 million US dollars in the same period of 2020; The gross profit margin is 46.0%, compared to 43.9% in the same period in 2020. The net profit was $470 million, compared to $1.65 billion in the same period last year.

 Haiwai Information Lanting Jishi Q3 saw a year-on-year decrease of 1.3% in revenue and a net loss of 6.1 million US dollars


He Jian, CEO of Lanting Jishi, stated that in the post pandemic era, fluctuations in global consumption capacity and macroeconomic uncertainty have brought multidimensional impacts to the cross-border e-commerce industry, with increasingly high transportation costs, changes in international marketing policies, and the European UnionThe pressure of the new VAT policy and a series of challenges such as exchange rate fluctuations have also come one after another.

 

He also emphasized that despite the challenging economic environment, the company has been optimizing its product structure, especially in the clothing category with higher profit margins compared to standard categories such as electronic products.

 

According to the financial report, clothing revenue in the third quarter was$61.9 million, compared to $44.4 million last year, a year-on-year increase of 39.6%. Clothing revenue accounted for 64.5% of the total product sales in the third quarter, compared to only 46.5% last year.

 

At the same time, Lanting Jishi is also increasing its research and development costs. According to the financial report,The research and development expenses for the first nine months of 2021 were $15.5 million, compared to $10.4 million for the same period in 2020.

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