TWS headset revenue increased by 40% year-on-year, helping Jiahe Smart H1 revenue increase by 72% year-on-year

On August 27, Jiahe Smart released its 2021 semi-annual report. During the reporting period, the company achieved operating income of 1.275 billion yuan, a year-on-year increase of 72.28%; and achieved net profit attributable to shareholders of listed companies of 37.4469 million yuan, a year-on-year increase of 126%.

Jiahe Smart pointed out that despite the continued spread of the epidemic in 2021, the company still achieved rapid growth in its main businesses such as headphones and speakers. At the same time, it is actively developing new products such as bone conduction headphones, smart watches, smart glasses, cameras, etc., which are expected to be mass-produced and shipped in the second half of the year, broadening the product matrix for the company and cultivating new profit growth points. 

At the same time, the Jiangxi production base has gradually been put into production, and the company's "Dongguan-Vietnam-Jiangxi" three-in-one production layout is progressing in an orderly manner, helping the company to reduce costs and increase efficiency. 

In the first half of 2021, Jiahe Smart focused on its main business of headphones and speakers, with operating revenue of 1,144,480,900 yuan for headphone products, up 65.96% from the same period last year. Among them, the operating revenue of TWS headphones was 650,746,700 yuan, up 40.38% from the same period last year, and the operating revenue of speaker products was 120,442,300 yuan, up 190.68% from the same period last year.

However, due to the impact of the COVID-19 pandemic, shipping ports were blocked, some customers were unable to pick up goods on schedule, and the growth rate of overseas revenue did not meet expectations. In addition, due to changes in customer structure, product structure, and fluctuations in the US dollar exchange rate, Jiahe Smart's comprehensive gross profit margin declined. The gross profit margin in the first half of the year was 8.93%, a year-on-year decrease of 4.24%.