The adjusted net profit of Simore International in the first three quarters was 1.225 billion, down 43.2% year on year

Smaller International (06969. HK) disclosed yesterday that in the nine months ending September 30, 2023, the Group had achieved revenue of 8.002 billion yuan (RMB, the same below), a year-on-year decrease of 9.7%; Profit before tax was 1.323 billion yuan, a year-on-year decrease of 47.1%; The adjusted net profit was 1.225 billion yuan, a year-on-year decrease of 43.2%.

In the three months ended September 30, 2023 (the current period), the Group has achieved revenue of 2.879 billion yuan, an increase of 10.9% month on month and a decrease of 10.3% year on year; Profit before tax was 526 million yuan, up 10.4% month on month and down 36.3% year on year; The adjusted net profit was 467 million yuan, up 3.1% month on month and down 35.2% year on year.

According to Smaller International, the Group's profit before tax in the current period decreased by about 36.3% year on year, mainly because the Group's revenue in the current period decreased by about 10.3% year on year, mainly because the revenue from the Chinese mainland market decreased by about 85.6% year on year; The Group's selling expenses, administrative expenses, research and development expenses, other income and expenses, and other gains and losses in the current period increased by about 30.1% year on year.

The Group's profit before tax in the current period increased by about 10.4% month on month compared with the second quarter of 2023. The main reasons for the increase are: the Group's revenue in the current period increased by about 10.9% month on month compared with the second quarter of 2023; The Group's selling expenses, administrative expenses, R&D expenses, other revenues and expenses, and other gains and losses in the current period increased by 47.6% month on month compared with the second quarter of 2023, mainly from the increase in R&D expenses, which partially offset the growth in profits.

key word: Ring ratio Year on year growth Other income group research and development