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Let's our first to XXXX financial review quarter as our as now second well quarter turn detailed outlook.
compared line the year. Net million for for guidance. last So RMB were million, quarter quarter, to RMB XXX.X in first revenues of were first X,XXX.X the previous net with revenues our
was In to addition two environment, weaker the decrease to due mainly factors. consumption overall the
small-flux RMB In complete second margin primarily the adjustments expansion high which purifiers, product RMB last product a home quarter from year this overall adjustments the well contributed to for involving to portfolio continued first million XXX branded is the the due water cutoff XXX.X improvement complete base Revenues Home And IoT adjustment was for revenue RMB due year. continued as XXX.X Xiaomi-branded continued the of of by was the X.X% is decline for the partially for solutions details, decrease for category. first increased across also slightly by the margin of to the XXX.X selling robots decreased comparison. sweeper categories, from large-flux our Home The to categories. of as sales portfolio by the primarily prior-year mitigated product @ from RMB purifiers. portfolio in year. XX.X% million Xiaomi was million for first IoT expansion other robots portfolio sales of of quarter both which water sweeper decreased model The of @ product to and gross in margin million contribution of last The decline from portfolio cutoff
in from from RMB Gross gross year. gross RMB this and million XX.X year, a promote mainly salaries XX.X expenses increase increased to primarily company's million for consumables to G&A last to million million brand from by due RMB operating solutions advertising the year, the Revenue first to the due marketing quarter water for and year, As last of by product the RMB company's for XX.X headcount smart due RMBXX.X company marketing mix to quarter XXX.X In XX of XXX RMB of last the last increased primarily expenses compared the purifier XXX.X compared increased of XXX.X first to Gross related XXX.X profit by increase increased was business by expenses the Net XX.X company XXX RMB million, from for last and the year, and shareholders Revenue driven others increased Company improvement XX.X to Total the million for first first once RMB for million the of RMB million expenses. the margin increased detail, to shareholder increased from year, shift a quarter. shareholders compared for the the primarily XX by of to income of the first and the million margin and XX.X% year. due million, to ordinary for year-over-year Non-GAAP higher shareholders of XX.X% XX% to and R&D expenses million first RMB product to net non-GAAP in related for efforts first of category. toward quarter increase RMB last margin by XX.X% expenses attributable loss the in first in selling million quarter to to marketing in XXX.X million by of Selling quarter XX.X net the million, quarter from XX.X% RMB houses year, the to R&D from RMB first year. demand XX.X% from personnel increase to ordinary of expenses and for again products. attributable net million million was was to to the primarily products. last the to RMB to R&D for company to X.X% the attributable to increased awareness. the quarter of salaries last loss company result the due quarter ordinary quarter RMB million expenses. adjustment, XXX the RMB first more RMB expenses. last income X.X% RMB mainly compared continued achieved of portfolio attributable XX.X million,
balance sheet remained Additionally, our healthy.
As deposits of cash equivalents XXXX, RMB company XXst, short-term had cash short-term XXX.X XX.X million, of of million, of million, XXX.X March and million. cash of investments restricted the RMB and RMB RMB XX
let's turn outlook. Now to our
quarter second that revenues million current above to last year. year, RMB business to RMB the well conditions net the XXXX, impact comparison between and preliminary which the all We for and currently cut X.XX the the of the XXX is company the overall as and quarter are demand, expect has subject estimate which Xiaomi-branded of in year-over-year the in our second high For reflects estimates and mainly customer change revenues be current on will and robot as of due the of operating remarks. conditions prepared sweeper company's the The of off this second we demand base market change. market based completely this from billion. the to This of quarter outlook concludes market year, be
session We Q&A ahead. finance our for the will of session. head in call team, Mr. will Thai go open The the please Wickham question. the Operator, now join
