iHuman(IH) Prnewswire·2024-09-27 09:47Core Viewpoint - iHuman Inc. reported a decline in revenues and profits for the second quarter of 2024, attributed to conservative consumer spending, while maintaining a strong user base growth and strategic product innovations [2][8][12]. Financial Performance - Revenues for Q2 2024 were RMB215.1 million (US20.9 million), down from RMB170.8 million year-over-year, with a gross margin of 70.5% compared to 70.9% [9][12]. - Operating income fell to RMB18.8 million (US3.4 million) from RMB42.1 million year-over-year, with basic and diluted net income per ADS at RMB0.47 (US0.06), respectively [12][22]. User Metrics - Average total Monthly Active Users (MAUs) reached 24.57 million, reflecting a year-over-year increase of 20.8% from 20.33 million [2][8]. Product Development and Innovation - The company introduced the iHuman Pinyin Reader, aimed at enhancing children's learning experiences through interactive content and a proprietary rating system [3]. - iHuman expanded its international content library with new themes in its apps, such as "Mermaid Melody" and "Fashion Salon," designed to engage young audiences globally [4]. - The animation studio Kunpeng successfully launched its Cosmicrew franchise in international markets, enhancing brand visibility and supporting broader business strategies [5]. Strategic Initiatives - iHuman is focusing on partnerships with manufacturers of smart devices to pre-install its apps, aiming to increase market coverage and accessibility [7]. - The company is investing in product innovation, including developing an experimental product for Apple's Vision Pro, to stay at the forefront of technological advancements [7]. Financial Position - As of June 30, 2024, iHuman had cash, cash equivalents, and time deposits totaling RMB1.13 billion (US39.9 million), a decrease from RMB318.6 million at the end of 2023 [12].