Great Microwave Technology (688270.SH) achieved a net profit of 18131 million yuan in 2024, a year-on-year decrease of 74.98%.

Great Microwave Technology (688270.SH) released its annual performance report for 2024, with a total operating revenue of 304 million yuan, an increase of 8.10% year-on-year; a net profit attributable to the parent company's owner of 18.131 million yuan, a decrease of 74.98% year-on-year; a net loss attributable to the parent company's owner after deducting non-recurring gains and losses of 4.3103 million yuan, turning from profit to loss; and a basic earnings per share of 0.08 yuan. During the reporting period, the net profit attributable to the parent company's owner decreased by 74.98% year-on-year, mainly due to the following reasons: in order to enhance the company's product coverage and competitiveness, the company continued to increase its research and development investment, with the research and development expenses significantly increasing during the reporting period; due to the slow collection of sales payments from downstream customers, the provision for credit impairment losses increased accordingly, and the company also made provisions for inventory impairment considering the current operating management status, changes in market conditions, and other factors; in order to enhance the company's production capacity, office, and production efficiency, increase the synergy between research and development, production, and marketing, and improve the success rate of pre-research projects and product conversion rate, the company purchased a headquarters research and development base in 2024.