今天再看一家整出些新闻的上市公司，天津捷强动力装备股份有限公司（股票简称：捷强装备）2005年成立，2020年8月在深交所创业板上市，主要从事核 化生防御装备核心部件的研发、生产、销售和专业服务，为军队提供各通用型号装备军用核化生洗消车辆的液压动力系统。 捷强装备在创业板上市，但他们一直都在创业之中没走出来，上市的次年就营收大跌，之后在2023年重新创下新高，但2024年腰斩式下跌，再次说明，其经 营仍然极不稳定。 2024年，所有的业务都在下跌，比较麻烦的是"液压动力系统"，营收是负数了，这当然是极少见到的情况。一般是退货的同时，当年还没有怎么销售这次业 务才会导致该情况，我分析过近千家上市公司，几乎没有遇到过这类情况。"核辐射监测设备"仍然是其第一大业务，随着其他业务的萎缩，2024年的占比还 有大幅提升。 2024年是连续第三年亏损了，亏损额度的扩大当然与营收的暴跌有关，至于还有没有其他影响因素，我们后面再看。 毛利率在波动中持续下滑了多年，但2024年跌成负数还是让人比较意外的，这还是在说明，2024年不是一个正常的年份。至于是销售净利率和净资产收益率 方面的表现，以前年份，特别是上市前的表现还是相当 ...

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]