资产减值吞噬利润 捷强装备亟待扭亏

Core Viewpoint - Tianjin Jieqiang Power Equipment Co., Ltd. has faced significant financial challenges, reporting a net loss of 278 million yuan in 2024, marking a 309.78% year-on-year increase in losses, and accumulating total losses of 363 million yuan over three years [1][3][4] Financial Performance - In 2024, the company's total revenue plummeted by 52.81% to 138 million yuan, continuing a downward trend since 2022 [1][4] - The net profit attributable to shareholders has shown a consistent decline, with losses of 17 million yuan in 2022, 68 million yuan in 2023, and 278 million yuan in 2024, reflecting year-on-year decreases of 156.22%, 289.68%, and 309.78% respectively [3][4] Product Line Performance - The hydraulic power system, which previously accounted for over 90% of revenue, saw its income drop from 243 million yuan in 2020 to a negative 63.4 million yuan in 2024, indicating a severe decline in this core business [1][6] - Other product lines, including biological detection equipment and nuclear biochemical safety equipment, also experienced significant revenue declines in 2024, with biological detection equipment revenue falling to 7.36 million yuan (down 3.43%) and nuclear biochemical safety equipment revenue down 39.01% to 56.99 million yuan [7][8] Asset Impairment - The company has recorded substantial asset impairment losses, totaling 290 million yuan over four years, which has severely impacted profitability [8][9] - In 2024, asset impairments increased by 181.54% to 160.27 million yuan, driven by goodwill impairment, inventory impairment, and accounts receivable impairment [4][9] Cash Flow Situation - The company reported a net cash outflow from operating activities of -36.12 million yuan in 2023, a drastic decline of 7440.59% year-on-year, primarily due to reduced sales collections [4][8] - Overall, the net increase in cash and cash equivalents was -183.81 million yuan, a decrease of 90.48% compared to the previous year [4]