Boston, MA 08/19/2014 (wallstreetpr) – Jumei International Holding Ltd (ADR) (NYSE:JMEI) announced unaudited second quarter financial results. The results reflect the strong financial and operating performance. It reported the net revenues rise of 41.9% year-over-year. The net revenues came at US$154.4 million. Jumei successfully completed its IPO on NYSE exchange on May 16, 2014. It raised the total amount of US$429.9 million.
The Key Highlights
Jumei International Holding Ltd (ADR) (NYSE:JMEI) reported the total net GMV [1] at US$289.4 million, up 64.3% year-over-year. it came higher due to the higher growth in the number of active customers that stand at 42.9% in the second quarter. The total orders showed a growth of 39.2%. The gross profit in terms of net revenues came at 46.3% as compared to 41.5% in 2Q2013. However, gross profit in terms of total net GMV declined to 24.7% compared to 25.7% in 2Q2013. Jumei went for expansion of marketplace services leading to lower gross profit as a percentage of GMV. The net income came at US$15.4 million.
The Management View
Mr. Leo Chen, CEO of Jumei International Holding Ltd (ADR) (NYSE:JMEI), said that the company has posted strong quarterly financial reflects. Jumei is steadily moving ahead on the growth track that is visible in operational efficiencies. The growth of 64.3% YOY in total net GMV, 53.6% rise in net income and 41.9% growth in net revenues reflects the strong performance in the second quarter. It is the first quarterly results after the listing of the company on NYSE exchange.
The Focus Areas
Chen added that Jumei International Holding Ltd (ADR) (NYSE:JMEI) focus will stay on enhancing its supply chain management. It will work out to achieve strict quality control measures. It will help Jumei to make professional relationships with more top-tier beauty brands from all over the world. The focus will remain on the Chinese markets. It aims to expand in the existing online beauty industry of China. It was the ninth straight quarter of strong and profitable growth.
