HYC(688001)2025-01-24 07:50Financial Performance - Suzhou Huaxing Yuan Chuang Technology Co., Ltd. expects a net loss attributable to shareholders of approximately -480 million yuan for the fiscal year 2024, compared to the previous year [2]. - The company anticipates a net profit loss of around -520 million yuan after deducting non-recurring gains and losses [2]. Market Conditions - The decline in performance is attributed to a low recovery phase in the consumer electronics industry, leading to decreased product prices and increased market competition, which negatively impacted gross margins [3]. Operational Costs - Increased operational costs are due to higher expenses from new market development, personnel growth, rising raw material costs, and increased depreciation and amortization of invested projects [3]. Goodwill Impairment - The company plans to recognize goodwill impairment for its wholly-owned subsidiary, Suzhou Huaxing Oulitong Automation Technology Co., Ltd., due to expected underperformance in net profit for 2024 [3].