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

2022-11-21
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Author:Yu Xiaoying
Source: ennews

Recently, many cross-border sellers, including Anke Innovation, Cross Border Communication, Tianze Information (Youkeshu), Huading Shares (Tongtuo Technology), Xinghui Shares (Zebao Technology), etc., have released their financial reports in the third quarter of this year. Among them, except for Anke Innovation, the revenue of the other four companies in the third quarter fell year on year20%-70%。

 

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

 

This year, the income of Lanting Jishi has remained relatively stable.The financial report shows that the revenue in the third quarter isUS $98.7 million, down 1.3% from US $100 million last year.Among them, the product sales revenue accounts for the largest part, includingUS $96 million, compared with US $95.4 million in the same period last year; Services 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 in the third quarter wasUS $43.9 million, compared with US $43.1 million in the same period in 2020; The gross profit rate in the third quarter was 44.5%, compared with 43.1% in the same period of 2020.

 

However, operating lossesUS $6.6 million, compared with US $1.6 million in operating profit in the same period last year;Net loss6.1 million US dollars, compared with 7.3 million US dollars in the same period last year;ADSs per share(ADS) had a net loss of $0.05, compared with $0.07 in ADS per share in the same period last year.

 

As for before this yearFor nine months, the revenue was 333 million US dollars, up nearly 25.5% year on year; Net profit was 153.3 million US dollars, compared with 116.5 million US dollars in the same period in 2020; The gross profit margin is 46.0%, compared with 43.9% in the same period of 2020. Net profit was $470 million, compared with $1.65 billion in the same period last year.

 B2b Lanting Jishi Q3's revenue dropped 1.3% year on year, with a net loss of 6.1 million dollars


He Jian, CEO of Lanting Jishi, said that in the post epidemic era, the fluctuation of global consumption capacity and the uncertainty of macro-economy had brought multi-dimensional impacts on the cross-border e-commerce industry, with increasingly high transport costs, changes in international marketing policies, and the EUA series of challenges, such as the pressure of the new VAT policy and the fluctuation of exchange rate, have also followed.

 

He also stressed that, despite the challenging economic environment, the Division had been optimizing its product mix, especially the clothing category with higher profit margins compared with standard categories such as electronic products.

 

The financial report shows that the clothing revenue in the third quarter isUS $61.9 million, compared with US $44.4 million last year, up 39.6% year on year. The clothing revenue accounted for 64.5% of the total product sales in the third quarter, compared with 46.5% last year.

 

At the same time, Lanting Jishi is also increasing its R&D expenses. According to the financial report,The R&D expenditure in the first nine months of 2021 is 15.5 million US dollars, compared with 10.4 million US dollars in the same period of 2020.

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