Net profit increased by 94% in half year, and Xgimi Technology's performance soared with great sales on Amazon!

While many of the projector brands under the big sellers were banned by Amazon, XGIMI Technology was safe and sound. Compared with the heavy losses suffered by the big sellers whose products were banned, XGIMI Technology's performance was even more enviable and ushered in a soaring performance.

XGIMI Technology's half-year net profit increased by 94 %

Performance forecast data shows that XGIMI Technology 's net profit in the first half of 2021 was as high as 188.915 million yuan, an increase of 94 % compared with 97.300 million yuan in the first half of 2020. Compared with the full-year net profit of 260 million yuan in 2020 , the growth in the first half of the year is very rapid.

According to Xgimi Technology, this is mainly due to the company's good market performance and continued sales growth , which has driven its revenue growth; at the same time, the company's self-developed optical efficiency of its products and product pricing strategy have led to an increase in gross profit margin.

However, industry insiders speculated otherwise, saying that the soaring performance of Xgimi Technology might be related to Amazon's account blocking trend. After multiple projector brands were blocked, Xgimi Technology was one of the few survivors, and it is also one of Amazon's top-selling projectors. It is unreasonable for its performance not to increase .

When comparing the previous sales data, the editor found an unusual data. In 2018, the revenue of XGIMI Technology was nearly 1.7 billion, but its net profit was -675,400 yuan. The huge revenue and the unsatisfactory net profit made people wonder what XGIMI Technology experienced in that year ?

XGIMI Technology's revenue in 2020 reached 2.828 billion yuan

As another successful Chinese overseas brand, Xgimi Technology was founded in 2013 and is headquartered in Chengdu, China. The company focuses on the research and development, production and sales of smart projector products, and also provides projector accessories.

Its products are sold both online and offline. Overseas, they are mainly sold through online platforms such as Amazon, AliExpress and its own website , and are exported to markets such as Japan, Europe and the United States .

According to the 2020 financial report, its revenue reached 2.828 billion yuan, a 34% increase compared to 2019. Net profit attributable to the parent company was 269 million yuan. In terms of details, its smart micro-projection products still account for its largest source of revenue, at 2.303 billion yuan.

In comparison, big sellers like Wantuo, Zebao and Anker are all involved in the smart projector equipment market. It seems that the market for this product is still very large, and sellers who sell such products can pay special attention to it.

Amazon

Projector brand

XGIMI Technology

Performance Forecast