Xinguang Optic-Electronics reported a net loss of 68.0335 million yuan for the year 2024

According to the Zhitong Finance APP, Xinguang Optic-Electronics (688011.SH) released its performance report for the year 2024. During the reporting period, the company achieved total operating revenue of 172 million yuan, a year-on-year increase of 5.99%; it recorded a net loss attributable to the parent company's owners of 68.0335 million yuan.

During the reporting period, the company's branches fully utilized regional synergy advantages to enhance market development functions and accelerate customer response times. At the same time, the company actively managed project work, resulting in a continuous and steady increase in operating revenue. However, the gross profit margin of military products was slightly higher for batch production products, which accounted for about 12% of military revenue, while the gross profit margin for R&D products was slightly lower, accounting for about 88% of military revenue. The decline in gross profit margin for civilian products comprehensively led to the company's performance loss. With the increase in revenue and the aging of accounts receivable from individual customers, the provision for credit impairment losses and asset impairment losses increased year-on-year, along with a decrease in government subsidies, all contributing to the year-on-year decline in net profit attributable to the parent company's owners during the reporting period