Polyrocks(SH:688669)2025-02-27 11:00Financial Performance - The total operating revenue for 2024 reached RMB 4,178,108,373.91, representing a 13.38% increase compared to the previous year[4] - The operating profit was reported at -RMB 136,114,881.61, a decrease of 523.35% year-over-year[4] - The net profit attributable to the parent company was -RMB 143,463,646.44, reflecting a 602% decrease compared to the same period last year[4] - The basic earnings per share fell to -RMB 1.18, a decline of 592.66% year-over-year[4] Assets and Equity - The total assets at the end of the reporting period amounted to RMB 5,223,812,117.69, an increase of 6.73% from the beginning of the period[4] - The equity attributable to the parent company decreased by 10.77% to RMB 1,398,895,697.80[4] Market Conditions - The company faced a decline in gross margins due to increased competition and a soft market demand, leading to price reductions on certain products[7] Financial Management - Financial expenses increased due to ongoing investments in new industrial bases, primarily funded through financing, which also led to reduced exchange gains[7] - The company plans to recognize an impairment of goodwill of approximately RMB 16 million related to its subsidiary, Guangdong Guanzhen Technology Co., Ltd.[8] Research and Development - R&D expenses increased significantly as the company continued to invest in new material development and upgraded production lines[10]