Shaanxi Construction Machinery (600984.SH) reported a net loss of 986 million yuan in 2024, with the loss expanding.

Shaanxi Construction Machinery (600984.SH) released its performance report for the year 2024, with total operating income of 2.738 billion yuan, a year-on-year decrease of 15.19%; a net loss attributable to the owner of the parent company of 986 million yuan, the loss expanded; a net loss attributable to the owner of the parent company after deducting non-recurring gains and losses of 994 million yuan, the loss expanded; basic loss per share was 0.7843 yuan. In 2024, due to a decrease in the new construction area of domestic engineering projects, a decline in market demand, and widespread delays in the initiation of signed projects, the overall equipment utilization rate of the tower crane rental industry remained low. At the same time, the decrease in demand intensified competition among small and medium-sized rental companies, leading to further declines in market rental prices. In addition, impairment testing of the company's assets, including goodwill, resulted in impairment of the asset group of the construction machinery rental business. These factors led to a significant loss for the company in the year 2024.