Yunmi today released its financial report for the first quarter of 2022 as of March 31.
According to the financial report, Yunmi's net revenue in the first quarter was 712.1 million yuan (about 112.3 million US dollars), compared with 1.2556 billion yuan in the same period last year, a year-on-year decrease of 43.3%. Net loss attributable to common shareholders was 50 million yuan ($7.9 million), compared with a net profit of 49.1 million yuan a year earlier. Non-GAAP net loss attributable to common stockholders was 41.7 million yuan ($6.6 million), compared with a net profit of 65.3 million yuan a year earlier.
The Yunmi's revenue in the second quarter of 2021 fell by 1.51% year-on-year, in the third quarter by 28.94% year-on-year, and in the fourth quarter by 29.44% year-on-year, plus the first quarter of 2022. It fell by 43.3%, and it has experienced negative revenue growth for four consecutive quarters .
According to the financial report, Yunmi’s cumulative number of household users reached approximately 6.9 million in the first quarter of 2022, compared with approximately 6.6 million by the end of 2021. Yunmi said that in addition to the weakening of the overall consumption environment, the main reason for the decline in revenue was the complete suspension of production of Xiaomi brand sweeping robots this year, and the portfolio adjustment of products continuing to expand profit margins in other categories.
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