Simor International: Q3 Revenue Of 3.286 Billion Yuan Increased By 14.1%, After Tax Profit Of 379 Million Yuan Decreased By 22.5% Year-on-year
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Simor International: Q3 revenue of 3.286 billion yuan increased by 14.1%, after tax profit of 379 million yuan decreased by 22.5% year-on-year
In the third quarter of 2024, Simor's revenue reached RMB 3.2861 billion, an increase of 16.5% compared to the previous quarter and 14.1% compared to the same period last year; The company's after tax profit was RMB 378.9 million, a month on month increase of 10.2% and a year-on-year decrease of 22.5%. Simor stated that it will continue to increase investment in product development for heating non combustible products and nebulized medical products projects.
Recently, Smoore International Holdings Limited (hereinafter referred to as "Smoore", stock code: 6969) released financial updates for the period ending September 30, 2024. According to the financial report, in the third quarter of 2024, Simor's revenue reached RMB 3.2861 billion, an increase of 16.5% compared to the previous quarter and 14.1% compared to the same period last year; The company's after tax profit was RMB 378.9 million, a month on month increase of 10.2% and a year-on-year decrease of 22.5%.
Simor Q3 Financial Summary | Source: Screenshot from Simor's Official Website
In the third quarter of 2024, Simor's revenue reached RMB 3.2861 billion, an increase of 16.5% compared to the previous quarter and 14.1% compared to the same period last year. This was mainly due to the increase in revenue from its own brand products and closed products in its enterprise customer business. As of September 30, 2024, the company's total revenue was RMB 8.3234 billion, a year-on-year increase of 4.0%.
In the third quarter of 2024, Simor Company's after tax profit was RMB 378.9 million, an increase of 10.2% compared to RMB 343.7 million in the second quarter; However, compared to the 488.7 million yuan in the same period last year, it decreased by 22.5% year-on-year; In the first nine months of 2024, the total after tax profit was RMB 1.0621 billion, a year-on-year decrease of 11.9% compared to RMB 1.206 billion in the same period of 2023. This decrease is mainly due to a significant increase in the provision for income tax expenses compared to the same period last year.
Simor stated that the company will continue to increase investment in product development for heating non combustible products and nebulized medical products projects in the future.
