Pop-toy maker Here Group Q4 revenue rises 94% on strong new IP sales - HERE News | RalliesPop-toy maker Here Group Q4 revenue rises 94% on strong new IP sales
H
HERE• Result drivers
- Lower channel sales - Co said sequential revenue decline was mainly due to lower channel sales amid challenging market conditions
- New IP launches - Year-over-year revenue growth was driven by higher sales across existing and newly launched IP product lines
- Goodwill impairment - Co recorded goodwill impairment reflecting lower-than-anticipated performance amid macroeconomic headwinds
Key financial details
| Metric | Actual |
|---|
| Q4 Revenue | RMB 127.70 mln |
| Q4 Net Loss | RMB 169.63 mln |
| Q4 Gross Profit | RMB 32.98 mln |
| Q4 Operating Expenses | -RMB 216.07 mln |
Outlook remains challenging
- Company says market environment remains challenging and expects to optimize cost structure
- Here Group aims to improve operating efficiency and strengthen IP and product capabilities
- Company expects efforts to support sustainable growth and long-term shareholder value
Q4 revenue rises on new IP sales
- China pop toy maker's fiscal Q4 revenue rose 94% yr/yr but fell 22% sequentially
