Zepp down on Q2 loss, revenue decline as fresh lockdowns hurt retail sales

Zepp Health

25/08/2022 13:49

** Shares of Zepp Health Corp  ZEPP.K  fell 3.8% at $2
premarket
    ** Net loss attributable to Zepp for Q2 of 2022 was 106.9
mln Chinese yuan ($15.60 million), compared with a net income of
92.6 mln Chinese yuan a year earlier
    ** Revenue for three months ended June fell ~40% to 1.1
billion Chinese yuan from a year earlier
    ** Fresh lockdowns in China due to resurgence of the
COVID-19 pandemic affected retail store sales, weakened consumer
demand and worsened supply chain crises
    ** The company expects net revenues for Q3 between 1.2
billion Chinese yuan and 1.5 billion Chinese yuan, down from
1.61 billion Chinese yuan in Q3 2021 
    ** At previous close, ZEPP down 57.4% YTD


($1 = 6.8520 Chinese yuan renminbi)

 (Reporting by Mehnaz Yasmin in Bengaluru)
 ((Mehnaz.Yasmin@thomsonreuters.com))