Recon Technology 1H 2023 EPS RMB$(0.88); Revenue RMB$45.6M

Author: Happy Mohamed | March 24, 2023 08:33am

First Six Months of Fiscal 2023 Financial Metrics:

• Total revenue decreased by approximately RMB8.8 million ($1.3 million) or 16.3% to RMB45.6 million ($6.6 million) for the six months ended December 31, 2022 from RMB54.4 million for the same period in 2021.
• Gross profit decreased by approximately RMB1.4 million ($0.20 million) or 9.5% to RMB13.1 million ($1.9 million) for the six months ended December 31, 2022, from RMB14.5 million for the same period in 2021.
• Gross margin increased to 28.8% for the six months ended December 31, 2022 from 26.7% for the same period in 2021.
• Research and development expenses decreased from RMB5.5 million ($0.9 million) for the six months ended December 31, 2021 to RMB5.1 million ($0.7 million) for the same period in 2022.
• Net income decreased by RMB141.3 million ($20.5 million) to net loss of RMB29.9 million ($4.3 million) for the six months ended December 31, 2022 from net income of RMB111.4 million ($17.5 million) for the same period in 2021.

		For the Six Months Ended
		December 31,
		2022			2021			Increase /(Decrease)			Percentage Change
(in RMB millions, except earnings per share; differences due to rounding)
Revenue		RMB	45.6		RMB	54.4		RMB	(8.8)		(16.3)	%
Gross profit			13.1			14.5			(1.4)		(9.5)	%
Gross margin			28.8	%		26.7	%		2.1 %		/
Net income			(29.9)			111.4			(141.3)		(126.8)	%
Net earnings per share- diluted			(0.88)			3.87			(4.75)		(122.7)	%

Posted In: RCON