Mocular Medical Reports H1 2020 Net Profit of RMB 3.56 Million, Down 17% Amid Declining Hardware Gross Margins

Source: Wabei.com

Wabei.com, August 12,Mocular Medical(832652) The semi-annual report for 2020, recently released, shows that the operating revenue in the first half of 2020 was RMB 31,830,805.39, representing a year-on-year increase of 57.04%; the net profit attributable to shareholders of the listed company was RMB 3,562,939.15, a year-on-year decrease of 17.37%; basic earnings per share were RMB 0.07, compared to RMB 0.19 in the same period last year.

As of June 30, 2020, Mocular Medical’s total assets amounted to RMB 109,997,772.34, representing a 0.94% increase compared to the end of the previous year. The net cash flow from operating activities for the current period was RMB -2,880,119.00, compared to RMB -698,204.41 in the same period of the previous year.

It is understood that the operating revenue for the current period amounted to RMB 31,830,805.39, representing a year-on-year increase of 57.07%. This increase was primarily attributable to the addition of production lines for epidemic prevention and control supplies by its wholly-owned subsidiary, Hangzhou Aiaugen MEDICAL Instruments Co., Ltd., which resulted in substantial external sales of such products.

Operating profit for the current period amounted to RMB 3,450,004.62, representing a year-on-year decrease of 24.51%. This decline was primarily attributable to an increased proportion of hardware product sales in the current period, particularly the addition of low-margin anti-epidemic supplies, which led to a year-on-year decrease in the company’s overall gross profit margin and, consequently, a corresponding decline in its overall profit level.

According to data from Wabei.com, Mocular Medical is a high-tech enterprise integrating R&D, manufacturing, sales, and services of ophthalmic big-data cloud-based consultation services, medical informatization integration systems, and digital ophthalmic equipment, providing users with rational and high-quality visual health solutions.