trending Market Intelligence /marketintelligence/en/news-insights/trending/xf39S6EaN2VywgV0w0Iapg2 content esgSubNav
In This List

Shanghai Beite Technology Q2 profit falls YOY

Blog

Gold - Geopolitical tensions and inflation remain key drivers

Blog

Lithium and Cobalt - Softer demand weighs on prices

Podcast

Street Talk | Episode 94: Recessionary fears in ’22 overblown, Fed could overtighten

Podcast

Next in Tech | Episode 65: The operations side of AI/ML


Shanghai Beite Technology Q2 profit falls YOY

Shanghai Beite Technology Co. Ltd. said its normalized net income for the second quarter was 3 fen per share, a decrease of 36.4% from 4 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.4 million yuan, a decrease of 16.3% from 8.8 million yuan in the prior-year period.

The normalized profit margin dropped to 4.5% from 5.4% in the year-earlier period.

Total revenue increased 7.9% on an annual basis to 176.7 million yuan from 163.7 million yuan, and total operating expenses grew 10.4% on an annual basis to 157.9 million yuan from 143.0 million yuan.

Reported net income decreased on an annual basis to 11.1 million yuan, or 4 fen per share, from 11.5 million yuan, or 6 fen per share.

As of Aug. 18, US$1 was equivalent to 6.39 yuan.