Suzhou QingYue Optoelectronics Technology (688496.SH) reported a net loss of 68.9688 million yuan in the fiscal year 2024.

Suzhou QingYue Optoelectronics Technology (688496.SH) disclosed its performance report for the year 2024. The company achieved a total operating income of 753 million yuan in 2024, an increase of 13.87% year-on-year. The net profit attributable to the owners of the parent company was a loss of 68.9688 million yuan, a decrease of 48.9646 million yuan compared to the same period last year. During the reporting period, the company continued to focus on its core business, deepen market expansion, increase efforts in developing new customers, and drive growth in operating income compared to the same period last year. In 2024, due to the impact of the consumer electronics and display industry cycle, the market competition remained complex. The sales prices of the company's related products faced downward pressure, and the impairment losses on inventories increased compared to the previous year. To actively respond to changes in the market environment, the company further strengthened accounts receivable management, increased collection efforts, and reduced credit impairment losses on accounts receivable compared to the previous year. In addition, the company effectively reduced operating expenses by strengthening internal controls and optimizing resource allocation. During the reporting period, the net profit attributable to the owners of the parent company narrowed its loss compared to the same period last year, with basic earnings per share and weighted average return on net assets both improving year-on-year.