Changyang Technology’s 2024 performance report shows that revenue has increased and profits have declined sharply.
According to the 2024 performance report released by Changyang Technology, the company’s annual revenue reached 1.333 billion yuan, a year-on-year increase of 6.35%; net profit attributable to owners of the parent company was 20.553 million yuan, down 78.46% year-on-year; net profit after deducting non-recurring gains and losses was only 1.0989 million yuan, a year-on-year plunge of 98.07%.
As of the end of 2024, the company’s total assets were 3.436 billion yuan, a year-on-year increase of 2.97%; the owner’s equity attributable to the parent company was 2.137 billion yuan, down 2% year-on-year; net assets per share were 7.36 yuan, down 2% year-on-year.
The main reason for the decline in performance is that the core product reflective film has maintained stable growth, but new projects such as diaphragms are still in the stage of capacity ramp-up, and the production capacity has not yet been fully released, resulting in large losses.
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