On August 18, 2023, Mobi Development Co., Ltd. held the 2023 semi-annual board meeting in Shenzhen in the form of online and in-person combination.Mr. Hu Xiang, Ms. Zhou Lingbo and Mr. Ye Rong, the executive directors of the Group, Mr. Qu Degan, the non-executive director, and Mr. Li Tian, the independent non-executive directorMr. Shu, Mr. Zhang Han and Ms. Ge Xiaojing attended the meeting.The meeting reviewed and approved the unaudited results announcement of the Group and its subsidiaries for the first six months of 2023, the interim report of MOBI 2023,The reports of the Executive Committee and the Supervisory Committee shall be adopted by resolution of the Board of Directors.The directors made suggestions on the strategic direction and business prospects of Mobi in 2023 and expressed their confidence in the future development of Mobi.
In the first half of 2023, the unaudited consolidated revenue of the Group was approximately RMB345.7 million, representing an increase of approximately 6.9% as compared with the same period of 2022.The sales of base station RF subsystem products increased by about 28.3%.The sales scale of major operators in China increased by about 15.3% compared with the same period in 2022.Sales to international equipment manufacturer customers increased by about 27.1% compared with the same period last year.In addition, the gross profit of the Group increased by about 53.4% compared with the same period last year, and the overall gross profit margin increased to about 20.1%.Net profit increased by about 93.5% compared with the same period last year, and the profit situation improved significantly.
In the first half of 2023, the Group achieved further breakthroughs in both domestic and overseas markets. Especially for major domestic operators have won the bid and maintained close cooperation with international equipment manufacturers and customers, orders and shipments have continued to rise. The cooperation with domestic and foreign operators and equipment manufacturers has been deepened and strengthened.The product quality and delivery ability have been unanimously recognized by customers.In addition, in recent years, the Group has stepped up its efforts to develop business areas such as energy conservation/new energy, and the relevant projects have been gradually implemented.The internal operation continued to implement effective cost management, gross profit margin increased significantly year-on-year, and profitability continued to improve;The cost structure has also been continuously optimized, the cost control measures have continued to fall to the ground, and the overall cost scale has declined.The overall expenses decreased by approximately 12.9% as compared with the same period last year, and the operating efficiency was improved.As a result of all the above factors, the Group's revenue and profit margin in the first half of 2023 improved significantly compared with the same period last year.This will have a positive impact on the Group's full-year revenue in 2023, as revenue from some projects is expected to be recognized in the second half of 2023 and beyond.In the future, the Group will simultaneously focus on the global market and further participate in the construction of global communication networks.It is believed that with the continuous consolidation of traditional businesses and the continuous development of business areas such as energy conservation/new energy,Will bring further performance growth for the group.
Looking forward to the future, the Group will simultaneously promote the two-wheel drive of domestic business and international business, while stabilizing domestic customers.Firmly deepen the internationalization route and continue to explore new business opportunities.On the one hand, it will continue to cultivate in the field of wireless mobile, focusing on traditional business areas such as antenna system business and RF subsystem business.Give full play to its own technological and market accumulation advantages.On the other hand, the Group will actively explore "5G +" vertical industry applications and new business areas such as energy saving/new energy.Constantly seek new business growth curve and get more growth opportunities.In addition, the Group will further implement cost and expense control strategies in the future to achieve sustained growth in both revenue and profit.
The interoperability of communication between technologies and technologies in the field of energy conservation/new energy, as well as the overlap of customers makes the Group more advantageous in the expansion of new business areas. In recent years, the Group has continued to expand and deploy in this field, and has accumulated relevant R & D and product experience.It is believed that with the acceleration of the process of 5G enabling thousands of industries, this will provide new performance growth momentum for the Group. Through the continuous expansion, deepening of the service, the cooperation interface with operators, the equipment manufacturers at home and abroad, as well as the continuous expansion of new business, we are confident that we will occupy a wider market share and win more new business growth opportunities in the future.