Ninestar Discloses Results for 2023

Ninestar Discloses Results for 2023

Ninestar releases an integrated report of financial results for fiscal year 2023, detailing cash flow and operation performance last year.

Throughout 2023, Ninestar has gone through decreases to different extents. The total revenue for 2023 is CNY￥ 24.062 billion (USD $3.32 billion), down by 6.94% compared to the prior year. Net profit attributable to the parent company experienced a severe drop from CNY￥ 1.863 billion (USD $0.26 billion) to a loss of CNY￥ 6.185 billion (USD $0.85 billion). Profit per share also fell to minus CNY￥ 4.395.

OEM printers and their consumables are still Ninestar’s major business field, accounting for 73.85% of the total income. The segment experienced a minor setback of 2.88%, reaching revenue of CNY￥ 1.78 billion(USD $0.25 billion). Other segments saw larger decreases, including aftermarket consumables, parts, and chips.

Most of Ninestar’s subsidiaries are influenced by the significant downturn. Lexmark suffered from the deferred shipment of OEM products, and Apexmic experienced a plummet of 27.07%. However, Pantum performed resiliently to the challenging period, resulting in an increase in revenue. Shipment abroad has risen by more than 30%, and shipment for A3 printers even doubled.

As China is becoming the largest market for printer shipments, Chinese local printers will have better chances in international competition. Having broken the technological barriers built by leading OEMs, Ninestar expects steady advancement and expansion of market share in the future.

Related:

• Ninestar Provides Thousands of Books for Needy School Children
• Ninestar Announces Partial Leaseback of Lexmark
• US Embargo Against Ninestar to Remain in Force for Now
• Ninestar Forecasts Performance for 2023

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