Sunsea AIoT Technology (002313.SZ) issued a profit warning, expecting a net loss of 120 million to 160 million yuan in the fiscal year 2024.

Sunsea AIoT Technology (002313.SZ) has released its performance forecast for the year 2024, estimating a net loss attributable to shareholders of the listed company of 120 million to 160 million yuan for the full year. During the reporting period, the company's operating income showed overall growth, with significant growth in wireless communication module business income; however, operating income from communication equipment manufacturing and communication service engineering businesses declined due to fierce market competition. Although the company continued to promote cost reduction and efficiency improvement, expenses decreased year-on-year, overall expenses remained high, and the gross profit generated by various businesses could not effectively cover the expenses incurred during the period, resulting in a loss.