On November 16 at 5 AM EST (November 16 at 4 PM Beijing Time), Yooz RELX (Huaxin Technology) released their 2022 Q3 financial performance report on NASDAQ. Here are the key takeaways gathered by 2FIRSTS.
In the third quarter of 2022, Yuke Technology reported a net income of 1.044 billion yuan, a 37.7% decrease from the same period last year, due primarily to paused store expansion and discontinued old products. The gross profit margin increased by 10.9% to 50% compared to the same period last year. Adjusted net income according to U.S. GAAP was 505.2 million yuan, a 48.4% decrease from the same period in the previous year. R&D investment saw a slight increase to 46 million yuan, compared to 44.6 million yuan in the same period last year. The company's cash and cash equivalents, restricted cash, short-term bank deposits, short-term investments, long-term bank deposits, net, and long-term investment securities totalled 16.405 billion yuan (approximately 2.306 billion USD) as of September 30, 2022, up from 14.72 billion yuan as of September 30, 2021. Yuke Technology is leading the way with its S&P CSA ESG score, which surpasses 67% of its peers globally. The company implemented cost control measures and reduced shipments of old products to adapt to new national standards and gradually shifted to a region-based national trading platform for complete national coverage. However, regulatory changes may lead to additional taxes and expenses, which could significantly impact profitability. As a result, there is significant uncertainty surrounding the company's future business performance. Cost control measures will remain a top strategic priority while maintaining sustainable long-term growth in the face of evolving regulatory environments.
Statement:
1. This article is intended for internal industry research and exchange only. It does not make any investment or brand recommendations. This article should not be used as a basis for investment decisions. 2. The data and analytical conclusions cited in this article have not been confirmed in writing with the companies. All data should be based on official publications from the companies.
This article is an original piece written by 2FIRSTS Technology Co., Ltd in Shenzhen. The copyright and permission for use are owned by the company and any unauthorized commercial reproduction, copying or usage which infringes on the company's rights is prohibited for both individuals and organizations. The company reserves the right to pursue legal action against violators.
Disclaimer
This article is provided solely for professional research, industry discussion, and informational purposes. Any references to brands, companies, products, technologies, or policies are made for factual reporting and analytical purposes only, and do not constitute endorsement, recommendation, promotion, or advertising by 2Firsts.
Nicotine-containing products, including but not limited to cigarettes, e-cigarettes, heated tobacco products, and nicotine pouches, carry significant health risks. Readers are responsible for complying with all applicable laws and regulations in their respective jurisdictions, including age restrictions and access limitations.
The information contained in this article should not be regarded as investment, legal, medical, regulatory, or commercial advice. While 2Firsts strives to ensure the accuracy and reliability of its content, it does not assume liability for any direct or indirect loss arising from errors, omissions, inaccuracies, or reliance on the information contained herein.
This article is not intended for individuals below the legal age for accessing tobacco or nicotine-related information in their jurisdiction.
Copyright Notice
This article is either original content produced by 2Firsts or content reproduced, translated, summarized, or adapted from third-party sources with attribution where applicable. The intellectual property rights of the original content remain with 2Firsts or the respective original rights holders.
No individual or organization may copy, reproduce, distribute, republish, modify, translate, or otherwise use this content without prior authorization. Any unauthorized use may result in legal action.
For copyright-related inquiries, corrections, or removal requests, please contact: info@2firsts.com.
AI-Assisted Translation and Editing Notice
Portions of this article may have been translated, edited, or reviewed with the assistance of artificial intelligence tools to improve efficiency and readability. Due to the limitations of AI-assisted translation and editing, discrepancies, omissions, or inaccuracies may exist when compared with the original source.
Where applicable, readers are advised to refer to the original source for the most complete and accurate information. If you identify any errors or believe that any content infringes upon your rights, please contact us at info@2firsts.com, and we will review and address the matter promptly.
