Zhuhai (SH:688175)2025-02-27 08:20Financial Performance - Total operating revenue for 2024 was CNY 266.08 million, a decrease of 25.34% compared to the previous year[3] - Net profit attributable to the parent company was CNY -51.99 million, a decline of 212.90% year-on-year[3] - The net profit attributable to the parent company after deducting non-recurring gains and losses was CNY -90.01 million, a decrease of 793.76% compared to the previous year[3] - Basic earnings per share were CNY -0.40, down 214.29% from CNY 0.50 in the previous year[3] Assets and Equity - Total assets at the end of the reporting period were CNY 1,966.95 million, a decrease of 4.84% from the beginning of the period[5] - Equity attributable to the parent company was CNY 1,785.05 million, down 4.69% from the beginning of the period[5] Revenue Challenges - The company experienced a significant decline in military telecommunications equipment revenue due to military system reforms[10] - Research and development expenses did not decrease in proportion to the revenue decline, impacting overall profitability[10] - The company recorded an increase in credit impairment losses due to delayed collections on accounts receivable[10] - Deferred tax assets were reversed based on the cautious principle due to ongoing losses at subsidiaries and future profit forecasts[10]