ST中基2024年财报：营收腰斩，净利润巨亏2.31亿

Core Viewpoint - ST Zhongji faces severe operational challenges in 2024, with performance significantly below market expectations, as evidenced by a substantial decline in revenue and a dramatic increase in net losses [1][4][5]. Revenue Decline and Business Pressure - In 2024, ST Zhongji's total revenue was 308 million yuan, a significant decrease of 46.48% from 576 million yuan in 2023, primarily due to weak sales in its core business of large and small packaged tomato products [4]. - Despite being located in a prime tomato production area in Xinjiang, adverse weather conditions and weak market demand have severely impacted production and sales [4]. - The company produced 173,600 tons of large packaged tomato sauce in 2024, a year-on-year increase of 49.78%, but this production growth did not translate into corresponding sales revenue due to falling international prices and intensified domestic competition [4]. Net Profit Loss and Cost Control Issues - ST Zhongji reported a net loss of 231 million yuan in 2024, a staggering decline of 313.21% year-on-year, with a non-recurring net loss of 308 million yuan, down 898.18% [5]. - The significant losses are attributed to poor cost control and increased asset impairment losses, with operating costs accounting for 95% of revenue, far exceeding the industry average [5][6]. - Increased investments in environmental protection and technological upgrades, while beneficial for long-term growth, have added to the financial burden in the short term [5]. Market Expansion Challenges - In 2024, ST Zhongji attempted to expand both domestic and international markets, but results were disappointing, with slow progress in non-European markets failing to offset declining demand in Europe [7]. - Efforts to promote small packaged tomato products through e-commerce and live streaming yielded lackluster market responses, failing to create a scale effect [7]. - Despite frequent client visits in domestic food processing, chain restaurants, and prepared dishes, actual cooperation projects remained limited, resulting in insufficient sales revenue growth [7].