Coolpad Group announces 2021 financial results

HONG KONG,March 25,2022 -- CoolpadGroup (02369.HK)announced on March 24 its financial results for 2021,reporting full year revenue of HK$665.4 million. In 2021,Coolpad enacted its plan to return to the Chinese market,building more than 3,200 service outlets across the country,launching two new cellphone models as well as its proprietary COOLOS system. The company brought on board several of the industry's most coveted professionals and executives as well as investment from some of the world's top investment firms.

CoolpadGroup booked sales and distribution expenses of HK$206 million in 2021. The companybegan to implement a new digital channel modelat the end of June 2021 and,as of the end of the year,had built over 3,200 service outlets across the country.

During the year,Coolpad rolled out two smartphones,the COOL 20 and COOL 20 Pro,pioneering a 90-day replacement and two-year warranty quality assurance standard. With the return to the Chinese market and the signing on of some of the industry's most talented professionals and senior executives alongside the capital injection from abroad,Coolpad has demonstrated the capital market's confidence in the group's long-term value.

In terms of R&D,Coolpad focused on the research into and development of mobile phone operating systems and launched the proprietary COOLOS system,further improving the reliability and security of the system through new technologies such as the new EROFS file system. According to data from Kernel Patch Statistic (remword.com),Coolpad ranked second in China's mobile phone industry and third among mainland China companies based on the number of patches submitted for the Linux kernel 5.14 version released in August 2021.