Aojie Technology (688220.SH) reported a net loss of 687 million yuan in 2024, with an expanded loss.

AoJie Technology (688220.SH) released its 2024 annual performance report, with a total operating revenue of 3.386 billion yuan in 2024, a year-on-year increase of 30.23%; the net loss attributable to the owners of the parent company was 687 million yuan, with an expanded loss; the net loss attributable to the owners of the parent company after deducting non-recurring gains and losses was 692 million yuan, with an enlarged loss; the basic loss per share was 1.69 yuan. During the reporting period, the company's chip products continued to iterate, the product series became increasingly rich, and the competitive advantages were evident. At the same time, the company continued to increase its market development efforts, especially making breakthroughs in some segments of the cellular IoT market, with a significant increase in chip sales volume, driving a substantial growth in the company's overall operating income compared to the same period last year. However, due to a significant increase in stock-based compensation expenses, coupled with a reduction in non-recurring income and an increase in impairment provisions, the company's losses expanded compared to the same period last year.