Recently, Wuxin Technology released its unaudited financial report for the second quarter of 2024. During the reporting period, Wuxin Technology achieved a net revenue of 630 million yuan, a month on month increase of 13.7% and a year-on-year increase of 65.9%. Under non GAAP accounting standards, the adjusted net profit for the second quarter was 210 million yuan, an increase of 2.7% month on month and 147.1% year-on-year.
Wang Ying, founder, chairman, and CEO of Wuxin Technology, stated that the strong performance of Wuxin Technology in the second quarter was mainly due to the continuous expansion of its international business. With profound insights into the global e-cigarette market and rich experience in regulatory compliance, the company is able to develop effective market entry strategies tailored to local conditions, maintaining a leading position in the rapidly changing global regulatory environment.
Wang Ying stated that Wuxin Technology will continue to focus on product innovation, enhance user experience and market share, and work closely with local partners to launch more attractive products.
According to Lu Chao, CFO of Wuxin Technology, the second quarter results fully demonstrate the company's ability to seize growth opportunities in the international market. The company has also successfully increased its operating profit margin under non US GAAP standards through strict cost control. The company has always been committed to creating long-term stable value returns for shareholders. Looking ahead to the future, Wuxin Technology will continue to drive steady growth in international market revenue and optimize operational efficiency to further enhance business performance and profitability.