"Performance" JOINN's net profit in the third quarter was 19.77 million RMB, a decline of 80.1%

JOINN (06127.HK) announced its third-quarter report for the period ending in September, achieving operating revenue of RMB 985 million (same below) according to Chinese accounting standards, a year-on-year decrease of 26.2%. The net profit attributable to shareholders was RMB 80.71 million, compared to a loss of RMB 70.31 million in the same period last year, turning from loss to profit; earnings per share were 11 cents.

In the third quarter alone, operating revenue was RMB 316 million, a decrease of 34.9%. The net profit attributable to shareholders was RMB 19.77 million, a decline of 80.1%, mainly affected by market competition, which compressed the profit margin of sales orders for realized revenue; earnings per share were 3 cents