Xiaosong Co., Ltd.'s 2024 Interim Report: Net Profit Decreased By 87% Year-on-year To 3.95 Million Yuan, And E-cigarette Business Increased By 230%

Xiaosong Co., Ltd.'s 2024 interim report: net profit decreased by 87% year-on-year to 3.95 million yuan, and e-cigarette business increased by 230%

Xiaosong Co., Ltd.'s financial report for the first half of 2024 shows that the net profit attributable to shareholders of the listed company is approximately 3.95 million yuan, a year-on-year decrease of 86.92%. Although the overall operating income has declined, the company's e-cigarette business has achieved a significant growth of 230% , has become a performance highlight, and the company is accelerating its layout in the new tobacco market.
On August 30, Guangdong Xiaosong Technology Co., Ltd. (stock code: 002723) (hereinafter referred to as "Xiaosong Shares") released its performance report for the first half of 2024.

During the reporting period, the company achieved total operating income of approximately 794 million yuan, a decrease of 8.89% from the same period last year; net profit attributable to shareholders of the listed company was approximately 3.95 million yuan, a decrease of 86.92% from the same period last year; the net cash flow generated from operating activities was approximately 159 million yuan, a year-on-year increase of 286.49%.

The company said that with the introduction of new categories such as heat pumps, healthy lights, and e-cigarettes to the market, the operating income of the home appliance business increased during the reporting period, with operating income reaching 514 million yuan, a year-on-year increase of 12.78%.

Xiaosong Co., Ltd. 2024 Semi-annual Report Source: Xiaosong Co., Ltd.

In the field of new tobacco products, during the reporting period, its e-cigarette operating revenue was approximately 57.69 million yuan, accounting for 7.26% of total revenue. Revenue in the same period last year was 17.43 million yuan, a year-on-year increase of 230.91%. In addition, Xiaosong Co., Ltd., through its wholly-owned subsidiary Jinlaite Intelligent Technology Co., Ltd., successfully renewed the "Tobacco Monopoly Production Enterprise License", providing a legal basis for the production and sales of e-cigarette products.

The company said it will strictly abide by relevant policies and improve the production, operation and management level of its e-cigarette business.

Xiaosong Co., Ltd. 2024 Semi-annual Report Source: Xiaosong Co., Ltd.