Wondershare(SZ:300624) Sou Hu Cai Jing·2025-07-17 03:41Core Viewpoint - Wanxing Technology reported a significant loss of 163 million yuan in 2024, marking a drastic decline in profitability compared to previous years [2][3]. Financial Performance - In 2024, Wanxing Technology achieved an operating revenue of 1.44 billion yuan, a year-on-year decrease of 2.78% [3]. - The net profit for the year was -157.4 million yuan, representing a decline of 245.37% year-on-year [3]. - The attributable net profit was -163 million yuan, down 289.61% compared to the previous year [3]. - The non-recurring attributable net profit was -161 million yuan, indicating a shift to negative from the previous year [3]. Cost and Expenses - The company attributed its losses to increased operating costs, research and development expenses, and sales expenses, along with goodwill impairment [5]. - Research and development expenses rose from 402.5 million yuan in 2023 to 442.4 million yuan in 2024, an increase of 9.90% [5]. - The number of research personnel increased from 889 in 2023 to 924 in 2024 [5]. - The proportion of R&D investment to operating revenue increased from 27.18% in 2023 to 30.73% in 2024 [5]. - Sales expenses amounted to 848.7 million yuan in 2024, reflecting a year-on-year increase of 17.42% [7]. Business Model and Strategy - Wanxing Technology primarily engages in software product development and sales, utilizing online channels for distribution [7]. - The company emphasizes a product matrix innovation and user experience rather than striving for each product to be the industry leader [8].