TIANSHENG(SZ:300169) Xin Lang Cai Jing·2025-05-15 15:03Core Viewpoint - The company held an online performance briefing for 2024, addressing investor concerns regarding operational status and development strategies [1] Group 1: Financial Performance - The company experienced a slight decline in sales revenue due to product structure upgrades and strategic adjustments in some subsidiaries, although gross profit improved and losses significantly narrowed [2] - The main reasons for losses include high financial expenses, with annual interest costs amounting to 39.68 million yuan, and the restructuring of certain subsidiaries [2] - The company has fully recognized goodwill impairment and plans no profit distribution for 2024 due to negative distributable profits [3] Group 2: Operational Adjustments - Land acquisition has positively impacted the company's cash flow, with payments received in installments, helping to reduce interest-bearing liabilities and optimize asset operational efficiency [3] - The company aims to reverse the revenue decline by optimizing product structure, expanding market channels, and enhancing cost control [3] Group 3: Strategic Initiatives - The company adheres to a strategy of "technological innovation" and "market-first," focusing on key material layouts, core technology breakthroughs, and market application expansion [3] - Recent developments include the creation of several mid-to-high-end rubber soft foam materials and functional rubber components to meet diverse industry needs [3] - Research and development expenses have decreased year-on-year due to reduced material input, but the company maintains a stable R&D team and emphasizes investment efficiency [3] Group 4: Subsidiary Management - The company continues to have actual control over Tian Sheng Securities Co., Ltd., with no further disclosures regarding the transfer of this subsidiary [4]