Ninestar Reports Growth in Q1 2022

Ninestar Reports Growth in Q1 2022

According to cninfo.com.cn, Ninestar operating revenue turned out to be RMB5.83 billion (US$882.42 million) in the first quarter of the fiscal year 2022 (Q1, 2022), up 6.74% year-over-year. Net profit attributable to shareholders of the listed company increased 77.68% year-over-year to RMB 440.93 million (US$66.73 million), while net profit attributable to shareholders of the listed company after deduction of non-recurring gains and losses was RMB395.39 million (US$59.84 million), up 100.03% compared to the same period from last year.

Total asset during the reporting period was RMB 43.50 billion (US$6.58 billion), a decline of 0.2% compared to the same period last year. The owner’s equity attributable to shareholders of the listed company was RMB14.70 billion (US$2.22 billion), up 2.89% year-over-year.

The main reasons for such changes include:

1. Printer business

Pantum printer sales increased 33% year-over-year in Q1, resulting in a significant 60% year-over-year growth in consumable sales. Pantum achieved a net profit of RMB 156 million (US$23.61 million), due to its increasing R&D investment to medium-and-high end printers.

Lexmark printer shipments increased 7% year-over-year in Q1, thanks to the gradual recovery that took place in the European and American markets. According to the data caliber of Lexmark’s management report, the EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) in Q1 increased by 16% year-on-year.

2. Apex business (including Geehy Semiconductor)

In Q1, Apex operating revenue turned out to be RMB504 million (US$76.28 million), with a shipment of 103.92 million units. Printer chips business operating revenue turned out to be RMB357 million (US$54.03 million). Chips for automotive/new energy, industrial control/security, and consumer electronics grew significantly in Q1, with more than 50% year-over-year increase in operating revenue. In Q1, Apex net profit turned out to be RMB250 million (US$37.84 million), up 10% year-over-year.

3. Print consumables business

Aftermarket print consumables business net profit increased 3% year-over-year in Q1, despite all the influencing factors.

Related:

• Ninestar Forecasts Profit Growth in Q1
• Ninestar Forecasts Results for Fiscal Year 2021
• Final: Ninestar Reports Net Profit Growth in Q3
• Ninestar Forecasts Significant Profit Growth for the First Three Quarters
• Final: Ninestar Reports Strong Growth for First Half  

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