Infinova's net profit in the first half of the year was -117 million yuan, down 49.56% year-on-year

On August 21, Infinova disclosed the company's first half performance. During the reporting period, Infinova achieved operating income of 1.54 billion yuan, a year-on-year decrease of 8.47%; total profit of -109 million yuan, a year-on-year decrease of 28.79%; net profit attributable to shareholders of the parent company was -117 million yuan, a year-on-year decrease of 49.56%.

Regarding the decline in performance during the reporting period, Infinova said: "During the reporting period, the company increased its efforts in developing new businesses and investing in resources, increased R&D investment, and increased expenses; affected by the national macroeconomic situation and industry regulatory policies, the company's digital marketing business revenue declined and profitability weakened, resulting in a year-on-year decline in the company's operating performance."

The company has been deeply engaged in the development of video IoT technology for many years and has a series of IoT products with video IoT technology as the core. During the reporting period, Infinova's IoT product revenue and channel agency business revenue remained stable, and the traffic purchasing business declined due to the update of the cooperative media platform; in terms of system integration business, revenue achieved steady growth; Simpu Interconnect actively explored new business models of new retail consulting, software services and data operations, and explored synergy with system integration business and other IoT business sectors to promote transformation and development.

In addition, in terms of the core business of smart parks, the company optimized project investment and operation, solution consulting and planning, software product R&D/sales, smart park system design and construction, and park operation service business systems; promoted the top-level planning of the Baoding Shenzhen Park smart park, the transformation of the Shenzhen Bay Science and Technology Ecological Park smart park, and the top-level planning project of the Changzhi Economic Development Zone smart park, carefully created model projects, and simultaneously established a brand communication mechanism and offline operation system to disseminate and promote it in the market, and then expand and replicate it to obtain more high-quality project engineering; the subsidiary Infinova Smart Park focuses on the smart park segment and has currently fully carried out product R&D and market development work.