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According to Cailian Press on August 22nd, due to factors such as slow order conversion and high expenses, leading special robot company Yijiahe (603666.SH) continued to face pressure on its performance.

According to the financial report released tonight, Yijiahe's net loss in the first half of the year exceeded 85 million yuan, an increase of about 90% compared to the same period last year. Cailian Press noted that among the A-share robot companies, Yijiahe's expense ratio for the 'three expenses' ranks among the top. In addition, today's robot concept stocks fluctuated and Yijiahe closed at the limit down.

Since 2022, Yijiahe has been in a state of loss. The financial report shows that in the first half of this year, Yijiahe achieved operating income of 0.142 billion yuan, a year-on-year decrease of 49.14%; the net profit attributable to shareholders of the listed company was -85.0341 million yuan, compared to -46.3754 million yuan in the same period last year. The company stated that the main reason was the decrease in revenue leading to a decrease in gross profit.

In addition, Yijiahe is also facing a cash outflow problem. The net cash flow from operating activities in the first half of the year was -7.5146 million yuan, compared to 83.3796 million yuan in the same period last year. The increase was mainly due to increased cash spent on purchasing goods and receiving labor payments compared to the same period last year.

Yijiahe stated that in recent years, the company has been actively promoting the development strategy of 'robot + industry'. Due to factors such as market conditions and order delivery cycles, the revenue in the first half of 2024 decreased year-on-year. While maintaining investment in various business areas, the company has optimized its management. Although overall expenses have decreased in the first half of the year, the expense ratio remains high and the net profit is negative.

According to calculations by Cailian Press, Yijiahe's sales expenses, management expenses, and financial expenses account for 20.76%, 38.51%, and 7.10% of revenue, respectively. According to statistics from Wind data, among all A-share robot companies that have already released their semi-annual reports, Yijiahe ranks second in management expense ratio, second only to Jingpin Special Equipment (688084.SH), and has the highest sales expense ratio and financial expense ratio.

Among them, Yijiahe's management expenses for the first half of the year were 54.6151 million yuan, an increase of 17.33% compared to the same period last year. The company stated that this was mainly due to an increase in fixed asset depreciation and amortization and management optimization costs compared to the same period last year.

In recent years, the government has been increasing its support for the robotics industry, and the scale and market demand of the robotics application market have been increasing. However, Yijiahe also pointed out that with the vigorous development of the robotics industry, the number of emerging robotics manufacturers other than existing competitors will increase rapidly, and industry competition will become increasingly fierce.

Despite facing many challenges, Yijiahe remains bullish on the long-term development of the robotics+AI industry. Previously, the company has made arrangements in the field of "humanoid robots" software and hardware and landing scenes, and has deep cooperation with Tencent Cloud, including cutting-edge technology research and development of humanoid robots, exploration and implementation of AI"platform+ecosystem" in the industry.

According to the financial report, in the first half of 2024, in the field of AI-related technologies, the company has always focused on the research and application of AI technology. The focus of work is on the deep optimization of the "AI platform" and "data management platform", and the successful integration of the two. In the first half of the year, the company successfully deployed tasks such as voice interaction and image recognition for the previously released multimodal hyperconvergence technology large model YJH-LM, and successfully realized text-to-image functionality.