Changzhou Fusion New Material (688503.SH) had a net profit of 419 million yuan in 2024, a decrease of 5.24% year-on-year.

Changzhou Fusion New Material (688503.SH) released its 2024 annual performance report. The company's total operating income for 2024 was 12.514 billion yuan, a year-on-year increase of 21.61%; the net profit attributable to the shareholders of the listed company was 419 million yuan, a year-on-year decrease of 5.24%; the net profit attributable to the shareholders of the listed company after deducting non-recurring gains and losses was 397 million yuan, a year-on-year increase of 0.24%; the basic earnings per share was 1.78 yuan. During the reporting period, due to intensified competition in the downstream photovoltaic cell sector, the photovoltaic industry entered a reshuffle stage. Some customers' payments were not as expected, leading the company to prudently make provisions for bad debts, impacting some of the profits.