and you, some joining Thank the by our to quarter third of everyone, would of start metrics Wang. discussing the results you like XXXX. our earnings key financial call Greetings, for today. thank for from I
in post-pandemic yet downswing before, As its we in not have cycle that our end. a at for be noted we to that believe been the categories may
our Americas growth. and on the varies a partially performance difficult both continued macroeconomic strong impacted environment offset softer regional particularly to by which the affecting EMEA Revenue in basis. performance reflecting the be selling Our APAC, in or regions, retailers
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and times road revenue years in result consumer behavior map time, in fully lived innovation, exciting returning expect our in my will and time. us in As product through multiple execution growth normalize focus on I that XX we in to tech, will
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introductions in mix. and XX% due the quarter, we launch by Amazfit Amazfit Xiaomi-branded and the approach our generated products new partially Active Active part our our from decreased experienced due and in of the a strategic year XX% will decrease timing During self-branded revenue channel both to Edge QX product as also to product products this where prune to product
a the net have income XXXX. our third a we and XX enhanced and -- we which quarter last for features. RMB net Wang quarter-on-quarter XXXX second and product revenue of growth quarter third our year X of for million as decline, mentioned, a products realized profitability the to third locked of million achieved new a RMB for quarter loss million return value Despite self-branded attribute a However, net XX brand with to compared X.X% loss of RMB the
on can factors by be life product product such various as model and to including our cycles, influenced product timing margin, upgrades. mix, Moving launch gross which
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our gross than in quarter the the a margin gross weakness gross on the now than on more Although profit, the to margin with experienced Xiaomi-branded third self-branded contributes quarter. which products, XX% improvements decline, second more of products this compared our total in gross for compensated resulting margin
with the momentum We're upcoming this level activity, company's well months product as be confident should of for positive planned new our introductions margin. to further moderated expansion we that sustain alongside the of the a able clearance gross as
now Turning to costs.
in in Hence, been during of manner a and key to discussed, expenses our for of sales. a amount quarter. focal company, have their we we control percentage the absolute both continue cost a has disciplined point as As terms
expenses pleased XXXX, RMB expansion making we QX, long-term level new XXX down QX the strategic a growth. previously expenses QX and than better lowest In total since our investments been million, technologies still see fuel products, operating stood while have in footprint in the provided. to trend guidance operating our and Since XXXX at non-GAAP we to
on expenses decrease refined as RMB resources in same approaches consistently investment R&D attributed The versus research XX.X% to third by maximized XX% comprised period ensure evaluated This development to a XX.X% XXXX the were year-over-year. quarter and Our decrease for and our the XXXX. efficiently in return of million, productivity. revenues of we largely XX is
to committed our AI maintain in are competitive against edge technologies peers. We to investing new and our
primarily and to strategies. strategically to of XXXX selling expenses our time, brand third marketing XX.X improvements. ROI-driven retail we Our and were million, the for a channel same RMB continue marketing mix execute XX% in year-over-year, owning invest the our At quarter decrease
RMB for XX expenses of were X.X% QX XXXX third XXXX, effective G&A cost with year-over-year by RMB XX control down million, in measures. Our our from compared the quarter million benefiting
we'll these monitoring we current activities operating to forward, research continue prudent committed Looking growth lower. to our around foster and competitiveness coming steadfastly expect and the stance discretionary marketing levels spending. long-term are quarters while even to invest diligently in Simultaneously, R&D at or to expenses and and initiatives maintain in
pivoted last the XX products loss results of result an Our RMB of the RMB XX RMB in year operating loss and expansion a operating profit to the self-branded million QX to operating and in XX of million million compared operating margin a of streamlined gross XXXX same period expenses. of our as
the entered realize operating QX. expect to high in season, we we As traditionally holiday profit
the of opportunities to equivalents and our September restricted Now sufficient and sheet. RMB business as cash provide seize balance Cash turning totaled with X billion, marketing to potential XX, and in invest growth. us XXXX, cash runway approximately
weather to QX steady we and inventory kept also XXXX have remains macro We on We efficiently. low We'll tightly consistent multiyear continue working levels with RMB inventory levels capital the as a focused million, managing at economy. our manage at XXX level.
and with our to quarter management, fifth QX, cash coming operating profits working cash flow. we operating positive we operating This In of is positive consecutive this flow, achieved expect flow continue capital cash with efficient into quarters. coupled trajectory and positive operating
retire million by debt. of another Since short/long-term In we RMB QX, debt our QX part started XXXX, our debt to continued RMB XXX portfolio of reduce million. retired levels and XX we to
strengthen, As continue operating we to our coming to cash quarters. more do in the flow intend
USD of in to the shares the XX.X shareholders. company's delivering we to to confidence repurchased worth our future buyback end in our commitment quarter We long-term the underscoring by committed September remain Furthermore, our continuing value fourth had and XX, our program million.
contributing for overall our to performance. RMB range XXX future, RMB million. is million of We be revenue trend in projected will the self-branded products anticipate guidance QX continue to the that to the growth to in Looking quarter-over-quarter XXX improving of sales
challenges profitability Our presented remains third our on both strengthening the and us unwavering.
In as with conclusion, opportunities. focus well quarter self-branded as products' performance
been over prioritizing management will encouraging on investors our business to approach played role, the profitability quarter. deliver turnaround confident to performance over and third our external and to strategies that longer a instrumental these term. our significant scale, has While products factors shareholders strategic focus self-branded approach and all cost value disciplined our the in our to We're continue
open may I now the for you you attention. Thank your ahead. for And please Operator, all will call have. any go questions
