Simo International (06969) Reports Mid-Year Results 2022.

Smoore International (06969) has released its financial results for the first half of 2022, ending on June 30. During this period, the company had a net profit of CNY 1.385 billion, which is a decrease of 51.9% compared to the same period last year. Its basic earnings per share were CNY 0.2308. The company also plans to distribute a mid-year dividend of HKD 0.10 per share.

The company's profits in the first half of 2022 were 5.653 billion yuan, a decrease of 18.7% compared to the same period last year. Research and development (R&D) expenses increased from 236 million yuan to 604 million yuan, a growth of 155.7% compared to last year. R&D expenses as a percentage of income increased from 3.4% to 10.7% in the first half of 2022. The main reason for this increase is the company's strategy to enhance long-term competitiveness and cultivate growth opportunities in new areas. The company has continued to increase R&D investment, especially in basic research on atomization technology and in the healthcare sector.

The group will continue to strengthen market insights and gain a deep understanding of customer needs in order to adjust products and marketing strategies and help its clients succeed in market expansion and sales. With electronic atomization products, the group is leveraging its technological and manufacturing advantages to improve product delivery capabilities and respond to differentiated customer demands. The group expects a significant increase in overall revenue in the second half of this fiscal year compared to the first half.

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