Smoore Reported RMB 288 Million in Revenue and RMB 39.13 Million in Net Profit in the First Half of

According to a report from Wabei Network on September 20, Maikewei (stock code: 834742) recently announced its 2016 semi-annual report, showing a revenue of RMB 288 million during the reporting period, a year-on-year increase of 108.69%; the net profit attributable to shareholders of the listed company was RMB 39.1321 million, a year-on-year increase of 137.45%; basic earnings per share were RMB 0.62, a year-on-year decrease of 62.42%.

As of June 30, 2016, Maikewei's total assets amounted to RMB 337 million, an increase of 37.43% compared to the beginning of the period; the asset-liability ratio was 44.42%, down 7.84 percentage points from the beginning of the period's 52.26%. The net cash flow generated from operating activities during this period was RMB 47.6655 million, compared to -RMB 7.4627 million in the same period last year.

During the reporting period, Maikewei's operating income of RMB 288 million represented a year-on-year increase of 108.69%, mainly due to the continuous growth in ODM orders from major clients in the first half of 2016; the launch of self-branded open electronic vaporization devices also contributed to a certain proportion of revenue growth.

Maikewei's net profit for the first half of 2016 was RMB 39.1321 million, a year-on-year increase of 137.45%. The main reason for the profit growth was the high gross margin of self-branded open electronic vaporization devices, which brought a certain proportion of profit increase after being launched in the market, and the revenue growth diluted fixed costs.

According to data from Wabei New Third Board Research Institute, Maikewei is a technology innovation company specializing in the research, production, and sales of electronic cigarettes and open electronic vaporization devices (APV), with current business segments including ODM and self-branded APV.