Feymer(SH:688350) Mei Ri Jing Ji Xin Wen·2025-05-08 12:35Core Viewpoint - The company, Fumiao Technology, reported a decline in revenue and a net loss for the first time since its IPO, attributed to intensified competition and falling raw material prices [2][3]. Financial Performance - In 2024, Fumiao Technology achieved revenue of 1.566 billion yuan, a decrease of 4.54% year-on-year [2]. - The company recorded a net loss of 4.6545 million yuan, marking its first loss since going public in 2021 [2]. - The decline in revenue was primarily due to increased competition in the chemical industry and a drop in prices for key raw materials [2]. Business Segments - Revenue from water-soluble polymers was 714 million yuan, down 6.84% year-on-year, influenced by a slight increase in sales volume but a decrease in selling prices [3]. - Revenue from functional monomers was 607 million yuan, a decrease of 4.94%, attributed to a slight decline in sales volume and pricing pressures [3]. - Revenue from water treatment membranes and applications increased by 7.18% to 42.6475 million yuan, driven by higher sales of membrane components and equipment [3]. - Revenue from energy supply decreased by 3.49% to 163 million yuan, due to lower sales volumes and prices resulting from reduced operational rates in the park [3]. Strategic Initiatives - The company plans to integrate membrane products, services, and chemicals to create a comprehensive market offering, aiming for greater market share through specialized services and refined management [4]. - Fumiao Technology is focusing on expanding its overseas business, which saw a 7.4% increase, while domestic sales declined by 7.11% [6]. - The company is optimistic about long-term returns from recent investments, despite short-term profit sacrifices [7]. Management Insights - The chairman highlighted the need for operational adjustments, including staff reductions and business focus, to enhance clarity in operations [7]. - The company is positioned to benefit from trends in energy conservation and emission reduction, with ongoing investments aimed at improving future profitability [7]. - The new controlling shareholder, Yongzhu Holdings, is expected to provide support and strategic direction for the company's growth, particularly in the water treatment sector for the steel industry [7].