Cubic Sensor And Instrument Co., Ltd (688665.SH) reported a net profit of 105 million yuan for the fiscal year 2024, a year-on-year decrease of 20.64%.

Cubic Sensor And Instrument Co., Ltd (688665.SH) released its preliminary financial report for the year 2024, with operating income of 855 million yuan, a year-on-year increase of 23.64%; net profit attributable to owners of the parent company was 105 million yuan, a decrease of 20.64% year-on-year. Basic earnings per share were 1.05 yuan. During the reporting period, due to the implementation of equity incentives resulting in share-based payment expenses, an increase in the number of employees, and salary growth, the company's management expenses increased by 56.28% year-on-year, an increase of 22.335 million yuan; in order to increase the investment in R&D of the company's products and enhance their core competitiveness, the company increased direct R&D expenses, with R&D expenses increasing by 39.64% year-on-year, an increase of 32.6031 million yuan; in order to further strengthen market development both domestically and internationally, the company continued to expand its marketing talent pool, while intermediary services and advertising expenses also increased, resulting in a 36.26% year-on-year increase in sales expenses, an increase of 20.7402 million yuan; due to a decrease in interest income from funds raised in accounts and exchange gains, the company's financial expenses increased by 87.38% year-on-year, an increase of 8.9258 million yuan.