The latest: Manufacturer of intelligent learning devices Readboy Education Holding Co. Ltd. (2385.HK) reported On Tuesday, the non-GAAP-adjusted loss in the first half of this year doubled to 34.22 million yuan ($4.8 million) from 17.7 million yuan a year earlier.

Look up: The company’s revenue rose 31.1% to 165 million yuan after it launched a new line of learning devices that boosted the average selling price of its core tablets. At the same time, the company improved its operations by reorganizing its sales channels.

Please note: Due to higher sales volume, distribution expenses increased by 68% to 130 million yuan, leading to an increase in losses in the first half of the year.

Dig deeper: Founded in 1999, Readboy develops, manufactures and sells smart learning devices. Its first products were simple reading devices, later adding personal tablets for students, smart teaching solutions, wearable products and smart accessories. The company applied for listing three times and finally debuted on the Hong Kong Stock Exchange in July last year. Readboy has relied mainly on offline sales in the past, which caused the company to suffer a major blow during the pandemic. Since then, it has increased its online sales and marketing efforts, significantly increasing its revenue.

Market reaction: Readboy shares rose on Tuesday, closing up 1.2% at HK$6.8 by lunchtime. The stock is now trading at the mid-to-lower end of its 52-week range.

Translation by A. Au

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