钜泉科技回复函解释募投项目亏损原因 去年“智能物联表”招标大幅下滑

Core Viewpoint - Jiuquan Technology (688391.SH) is facing significant challenges with its three fundraising projects, all of which reported negative returns in 2024, prompting inquiries from the Shanghai Stock Exchange regarding the reasons for these losses [2][3]. Group 1: Financial Performance - In 2024, Jiuquan Technology's three key fundraising projects reported losses of approximately -29.27 million yuan for the metering chip project, -6.90 million yuan for the management chip project, and -39.68 million yuan for the SoC chip project [2][3]. - The company’s stock price is currently at 27.37 yuan, with a market capitalization of 3.151 billion yuan [2]. Group 2: Market Demand and Procurement - The demand for smart IoT meters has significantly decreased, with the State Grid's procurement of smart IoT meters dropping from approximately 1.38 million units in 2022 to only 310,000 units in 2024 [5][6]. - The State Grid's procurement of smart meters has shown a consistent increase in previous years, but the 2024 figures indicate a drastic decline [5]. Group 3: Project Development and Standards - The IR46 standard smart IoT meters are still in a small-scale pilot phase, suggesting that the State Grid is evaluating the performance and reliability of these meters before large-scale deployment [4][8]. - Jiuquan Technology had previously expressed optimism about the smart IoT meter market, anticipating a significant increase in procurement demand following the implementation of the IR46 standard [3].