XGimi Technology’s 2021 revenue was CNY 4.038 billion (USD 621.068 million), an expansion of 42.78% year-over-year. Nonetheless, the sales of laser television shrunk 46.74% due to the pandemic.
Chengdu XGimi Technology (Chinese: 极米科技, 688696.SH), a company that designs, manufactures and sells high-performance multi-functional electrical appliances, released its 2021 annual report on April 22.
The report shows that the total revenue of the company was CNY 4.038 billion (USD 621.068 million), 42.78% more than the previous year. Net income surged 79.87% to reach CNY 483 million. The MAU (monthly active users) of its smart projectors was 2.11 million by end of 2021.
The company’s net cash flow from operating activities skyrocketed 1892.32% due to the increase in product sales and gross profit in 2021. The funding from issuing new shares led to a jump of 107.27% in total asset from the same period of the previous year.
The total R&D expense of XGimi added up to CNY 2.63 million in 2021, up 89.03% from a year earlier. The proportion of R&D expense in total revenue roseto 6.51% from 4.92% in 2020.
Product-wise, the revenue from the company’s smart projector in 2021 amounted to CNY 3.501 billion, 51.97% more than the previous year. The sales of creative products stood at CNY 219 million, 3.51% lower than a year earlier. Moreover, the income generated by laser television slumped 46.74% over a year ago, due directly to the impact of Covid-19 on offline stores. Offline which is an important sales channel of the product.
XGimi's overseas market revenue in 2021 leaped 145.22% year-on-year. During the reporting period, the company's products have been shipped to Japan, Europe, the United States and other markets.
With a total of 50 million ordinary shares registered as of the disclosure date of its announcement, the company is planned to distribute a cash dividend of CNY 30 (tax included) to all shareholders for every 10 shares. The total cash dividend payout would reach CNY 150 million, according to XGimi’s annual report.