AMZ123 has learned that, as the peak season approaches, cross-border e-commerce listed companies have basically completed their first-three-quarter performance disclosures. The aggregated data shows that the industry as a whole remains on a growth trajectory, but rising revenue without rising profit is relatively common: 14 of 16 major Amazon sellers achieved year-on-year revenue growth, while 9 saw net profit attributable to the parent decline or swing from profit to loss. Exchange-rate fluctuations, inventory pressure, rising traffic costs, and merger integration factors are continuing to erode profit margins.

Specifically, Anker Innovations generated first-three-quarter revenue of RMB 26.14 billion, up 24.36% year on year, net profit attributable to the parent of RMB 2.261 billion, up 16.97%, and R&D investment of RMB 2.851 billion, up 46.54%. Sailvan Times posted revenue of RMB 9.722 billion, up 18.73% year on year, with third-quarter net profit attributable to the parent up 89.55% year on year; its period-end inventory was RMB 1.872 billion, up 46.63% from the beginning of the year. Ziel Home Furnishings generated revenue of RMB 7.616 billion, up 25.23%, and net profit attributable to the parent of RMB 375 million, up 38.14%. Hello Tech Energy posted revenue of RMB 3.674 billion, up 24.89%, but net profit attributable to the parent fell 69.55% year on year; European market revenue grew 91.35% year on year.

Exchange rates were one of the most frequently mentioned keywords in this round of third-quarter reports. Loctek Ergonomic Technology's financial expenses rose to RMB 215 million, and exchange losses caused by RMB appreciation pushed its net profit attributable to the parent down about 65% year on year. Henglin Home Furnishings faced the combined triple pressure of RMB appreciation, higher raw material prices, and rising sea freight costs, with financial expenses exceeding RMB 200 million. Excluding exchange losses and non-recurring items, Autel Intelligent Technology's net profit attributable to the parent was about RMB 625 million, up 0.30% year on year. Excluding exchange losses, Jihong Technology's net profit attributable to the parent grew 8.66% year on year; its cross-border social e-commerce segment generated revenue of RMB 3.75 billion, up 14.85%, and profit growth reached 61.60% after excluding currency effects. Aohai Technology's revenue surged 164.71% to RMB 13.734 billion due to consolidation effects, but its net profit attributable to the parent fell 93.39% year on year, and operating cash flow recorded a net outflow of RMB 7.587 billion in the first three quarters. Overall, scale expansion no longer equates to improved earnings quality. Brand building and product strength have become the most solid competitive barriers; inventory risks have not yet subsided, and financial management capability will largely determine the upper limit of corporate profits.

Source: AMZ123
Original link: https://www.amz123.com/kx/JfhgktQy