Road Environment Technology Co., Ltd (688156.SH) reported a net loss of 56.93 million yuan in 2024, turning from profit to loss.

Road Environment Technology Co., Ltd (688156.SH) released its performance report for the year 2024. The company's total operating income for 2024 was 282 million yuan, a decrease of 19.65% compared to the previous year. The net loss attributable to the owners of the parent company was 56.93 million yuan, turning from profit to loss; the net loss attributable to the owners of the parent company after deducting non-recurring gains and losses was 59.82 million yuan, also turning from profit to loss; basic earnings per share were a loss of 0.57 yuan. During the reporting period, the company further adjusted its business structure and investment layout, continuously improving the market expansion of the Baijiu lees biological fermentation feed business. The sales volume and revenue of the Baijiu lees biological fermentation feed business steadily increased. However, due to factors such as continuous decline in domestic bulk feed raw material prices and overall adjustments in the livestock industry, product prices were reduced, leading to a decrease in gross margin. At the same time, due to the investment in new production capacity, research and development expenses, sales, management, and financial expenses rose during the same period, impacting the overall profitability of this business. Additionally, during the reporting period, the company recorded an increase in credit impairment losses and asset impairment losses in its inorganic solid waste treatment service business, contributing to the overall decline in the company's performance during the reporting period.