Infinova 2021 Revenue Plummets and Net Loss Surges
********'* ******* ********* *** *** * severe *** **** ** *** ******* revealed ********** *** *** ******** *********** business *** ***-****** ******* *********/*** ********.
******** **** *** ***** ********** ******* **** *** ***** **** consumer ************ *************, ***** ** ******** ** ****.
** **** ******, **** ********:
- **** ******* *** *******
- ******* *** *** ***** *******
- **** **** ********
- ******** ******* ****
- ****** ** ***** *** *** ****** on ******** *******
- ***** *******, ******* *** ******
- ********* *** ******* ********* ******** ****
- ******** *. ******** *******
- ********* *******
- **** ***** ********
- ***** *** ****
- ***** ********
*********:********'* **** ********* ****** (** *******)
Revenue **** ~**%, ******* **** ~*,***%
********'* ******* ******* ~**% ** ~$*** million *** ** ****. ******* ********* ~1,741% ** * *** **** ** ~$213 ******* ***, ******* *** ******* had -**% *** *******:
******** ************ ***** ******** ** **** ****, ********'* **** ******* ****** ***** includes *** ******** ** *****'* **** revenue ** *****'* **** *** *** finalized ***** **** ******** ****:
** *** **** ****** ******, ******** said **** ** **** ***** *** Infinova ****** ** *** ******* *** concentrate **** ** *** *** ******** development:
** ** ********* ** *** *******'* return ** *******, ******* *** ********** of ******* *** **********, *** ** invest **** ** ******** ********, ***** is ** **** **** ****-**** *********** strategy ** *** *******.
******** ** ****** **** ***** **** PRC **************,*****,*** *******. ******** *** * ********* ***** challenges *** ** *** ******** *** economy ******* ****, **** ******** ****** growth ********, *** *** *******, ************ in *** **.
Reasons *** ********* *******
******** ***** * **** ******* *** the *********** ********* ******* ********, ********* external ******** ******* *** ********* ****** in *** ********.
*****, ******** ***** "******** **********" ** a ****** *** *** *******:
** ****, *** ******* ***** ******** challenges **** ** ****** ***********, ********** of *** ***** ********, "****** *********" in *********, *** ********** ********** ** the ****** *** **** ****** **********.
******** **** ***** ******** ********** *** credit ********** ******, **** ** *** sale ** ******** ******/***** ********, ** 2021 ** ******* *** *** ***** decline:
** * ****** ** ***goodwill ********** **** *** ****** ********** **** charged during the reporting period, resulting in a large loss in net profit for the reporting period, as well as the combined effect of the investment income from the sale of 100% equity interest in Infinova Canada and non-payable costs and expenses, thus resulting in a large difference between the net cash flow from operating activities and the net profit for the year for the reporting period. [emphasis added]
****** ********** *** *** ******, ********'* operating ***** ******** ******* *** *** year, ********* ** * *** **** of ~$** ******* ***:
******** **** ******** * ******** ~$*** million *** ** ****** ********** *** asset ********** ******. ******** ******** *** reported ****** *** **** ** ****, credit ********** ****** ********* ~** ** -$61 ******* ***, *** ***** ********** losses ********* ~*** ** -$*** ******* USD.
Infinova: "********" **** ** ****
*******, ******** ********** ****, ******* **** financial *******, **** **** "********" **** on ****, ~$*** ******* ***.
******** ***** *** * *********** ******* in *** ***** ** **********, * large **** ** ******** *** * large ********** ** ********,the *******'* ********** ****** *********, ********* **** **** ******** ******** ******, *** **** ** *** ***** *** ******** ** *** *** ** *** ******, which lays the foundation for the future. [emphasis added]
*******, ~**% ** **** **** (~$*** million ***) ****** *** ***** ******** ******** ****. *** ********* **** ** whether *** *** **** **** ******** can ******** ***** ******* ***** ***** deteriorating **********.
Domestic ******* **** ~**%
********'* ******** ******* ********* ~**% ** ~$267 ******* *** ** ****:
********'* ******** ******* *** ****, ***, although **** ****, ** ~**%, *** the ******* *** *** ***** **** details ***** ****** ** ******** *******. However, ******** *** *** **** ** has "******** *********** ****** ** ***** and *** ****** ****":
******** ***** ******** ******** *** ********** and ******* *****, **** ******** ****** in *** ***** ************ ****** *** government ************** *** ********** *** ********** facilities, ****business *********** ****** ** ***** *** *** ****** ****. [emphasis added]
Domestic ***** ********** *******
******** *** ****** *** ****** **** other *** *********, **** ** ********* and *****, ******* ******** ** *** particularly ****** ** ******* ******* ******** compared ** ***********. ******, ******** ** involved ** *********** ******** ************ ** the ***, ********* "***** ****," "***** Campus," "***** ********," ***.
*******, ** ****, *** ** *** pandemic, *** ******** *** ****** ****, as ************* ******** ************ ** ***** **** ******** calls. * ***** ********** ******** **** the ******* **** ** **** **** affected ********'* ******** *******, ** *** cities **** **** ** ******** ** residents **** ****** **** (*.*.**'** ** ******** ****). ********* **** ********* **** ****, with ***** ****** **** ********** *********** ************ ***** *** *********, **** Beijing * *********** ****.
PRC ****** ******* *****
******** *** ****** *** **** ******** Infinova's ******** *** *******, ** *** company ********* * "****** *********" ** education ************* ************* ****** **********.
** **** ****, *** *** ********** announced *** "****** *********" ****** ** education** ****** ******** ******* ** ******** and ********* ******* ** *******. **** **% ** ******* ******** institutions **** ****** ** *****, ********* to *** ******** ** *********,* ****** ***** ***** ********. ******** *** *** ********* ** what ****** ** *** ******** **** policy ************ ********, *** ******** ***** in *** ****** **** ** ** involved ** "***** *********" ******** "******* educational ************ ** ******* *** ******* information **********."
*****, ********* *** ***** ***** **** suffered *** **** ****** ******* *** reported ****** ****** ** ****. *******, Infinova *** ********* ****** ** **** that **** ***"******** ** ** ******** ******* ** China"*** ********* **** **** ** * disadvantage *** ********** ********.
Swann ***-******, *** **********
*****'* ******* *** ~$** ******* ************ ** ********, **** ~**% **** ~$*** ******* in ****. ***** **** *** * net **** ** **** ** ~$*.* million ***:
** ******* **** ******** *** **** to **** ***** ******* *****'* ******** overseas ***** **** *** *** **** its ***** **********, *** ** ******** how **** ************ ****** **** *** find. *****'* ******* ** ********* *** the ******** ** *** **********. *******, the ********/*** ****** ******* ** **********, and *** ********** ** ******, ******* domestic ** ********, *** *** ******** on **** ***/** **** ******** *** businesses.
*****, ** *** ***** *** *** enough, ** ******* ******** *** ***** surveillance ************* *** **** * ****. Infinova **** $** ******* *** ***** in **** *** ** *** *********, for *** ******* *****, **** **** could ****** ** *** ******** **** the **** *****.
Solutions ******* ********
********'* "*********" ******* ********* ~**% ** 2021 ** ~$** ******* ***, ****** as * ****** ** ******** *** investment ** *** ******** ** ***** surged *** *** ** *** ******** policy:
** ****, ********* ******* ********* *** ~28% ** ******* *******, *** ** 2021, ** ********* *** **** ~**%.
*** *******'* *** ******* ***** **** down ~**% ** ~$*** ******* ***, including ********-******* ********, *****, *** ****** all ** *****'* **** *******.
Digital *********/*** ******** ************
******** **** ******** "******* ********** ********" through *** ********** ********, ********* ******* marketing *** ****** ****** ************ ********. Although ******** ******* ** * ************ company, ** ****, ******** ******** ********* for ~**% ** ******* *******.
*******, ******** *** ************ ** **** and ******** * *** **** ** ~$37 ******* ***.
******** ******* *********/*** ******* ** **% of ******* ******* ** ****, ** has *** ***** *******, ** ~*%. Further, ***** ******* ******* ****** * percentage ****** ** ****.
Domestic *. ******** *******
********'* ******** ******* *** **** ***** than ***** ********, **** ******** ***** margins ** ~**% ***** ******** ***** margins *** ~**%:
********'* ******** ***** ******* *** ****** much ***** **** ******** ******* ******* its ***-****** ******** ******* *********/*** ******** is ************ ** *****, **** ******** citing *****, *****, ************ **** ** *** **** *********.
*************, ******** **** **** *** ******** business *** ********* ********* ******* ***** Networks (***** *** ******** ** **** ****), *****, *** ********'* ******** ***** group, ***** **** ******** ************ ********. Those ******** *** ****** ****** **** Infinova's ******* *********/*** ********.
Headcount **** **** */*
********'* *&* ********* *** **** ******* by ~**%, **** *** *&* ********* in **** ** *** ********* ** 2021. *******, *** ****** ** *&* employees **** * ******'* ********* ********* by ~**% ** ****, **** *** employees ** **** ** **** ** employees ** ****:
*** ******* ********* ********* ** * similar ********** ******* (~**%) ***** **** ~1,500 ********* ** **** ** **** under ~*,*** ** ****. **** ** a ******** **** *** *** *******, whether ******** ** ********** **** ** if ********* *** ******* ** *********** numbers ** ***** ***.
R&D ********** ******* ~*%, ********** ***** ** ~**%
********'* *&* ******** ********* ~*% ** 2021, ** ******** ***** *** *&* team ****** ** */* *** *** company ******** * *** ****. *******, management ***** ********* ~**%, ******** *** company *** *** ******* *** ****** behind **** ****** ****. ********'* ********** costs **** ********* ~**%, *** *** company ********* *** ******** *** *** to "******** *****." *******, ********** ***** are ***** ********** ***** ******** ** other *****. *** *******, *&* ***** are ~*.** *** **** ** ********** costs.
Plans *** ****
******* * **** **** ** ****, Infinova ******* ** **** ************* ** 2022 ****** ** *** ***'* ********** to ********** ***** ******:
*** ************ ** ***** ****** ***** the ******** "******* *******" *** "*** infrastructure" **********, ** **** ** *** construction ** *** *********-**** ****-***** ******* Bay ****, **** ******* **** *********** opportunities *** *** *******.
*******, ******** **** ******* * ******** recently *** ********* ***** ***** ** **** **** since *** ********* ******** ***** ************* *** ********.
******* ** *****, ******** ***** ******'* **** ****-**** ****** ** **** ** ****** *** the *******:
** ****, *** *** **** ** the **** ****-**** **** ******, *** company **** ***** *** ****** *************, take "********* ******* *** **********" ** the *****, ******** ** ******* ********* transformation, ***** ** *** ******** ******, optimize *** ******** ******, ************ ******* technology, ***** *** ******** **********, ******* the **** ********** ***************, ******** ****** business, ******* *** *******'* *************, *** promote *** ****-******* *********** *********** ** the *******.
Stock **** ~**% **** ****
********'* ***** ** **** ~**% ** the **** ****:
**************** ***** ** ******** ** ****, ******* $*** ******* *** (********** for ***** ************ ********* ****) ** a ~$*.* ******* *********, *** ****** cap *** ****** ** ~$*** ******* now. *****, *** ******* ** ******* at ~*.** ******* ***** ** *********** given *** **** ********* *********** ** recent *****.
Online ******** *&* - *** **
******** ********* **** ** **** ** hosting ******** ******** *&* ** *** **, 2022. **** **** ***** *** ****** accordingly ** *** *******'* ********.