Ovation said today on the interactive platform, the company has laid out the sports camera, smart home, VR / AR, sweeping robot, industrial and medical-related products and other fields of optical lens, image module, optical machine module and the whole assembly and other links, and now some products have achieved mass production.
(hereinafter referred to as “Ovation”) issued a statement on June 29th regarding the removal of Nanchang Ovation Technology Co. Ltd. was removed from the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) entity list. Ovation welcomes this decision. Mr. Rongjun Cai, Chairman of the Group, said that Officera is embarking on a new beginning, focusing on new areas such as smartphones, smart cars, VR/AR and IoT ecosystem.
Ovation recently announced that it expects a net loss of 750 million yuan to 950 million yuan in the first half of the year, compared to a profit of 338.9 million yuan in the same period of the previous year.
The main reasons for the change in the half-yearly results for 2022 are as follows.
1, affected by the termination of the procurement relationship with specific overseas customers in the first quarter of 2021, the company’s product shipments related to specific customers in the first half of 2022 decreased significantly year-on-year.
- Due to changes in the international trade environment, recurring global epidemics, slowdown in consumer demand in the downstream end market in the short term and restrictions on the smartphone business of H customers due to chip disconnection, the shipment of some of the Company’s products decreased year-on-year.
- The overall operating revenue of the Company decreased significantly year-on-year and the amortization of fixed costs led to an increase in the unit cost of products; the exchange rate fluctuations of the U.S. dollar against the RMB caused an increase in the Company’s exchange loss, which had an impact on the profit in the reporting period.
