---
title: "HCFA's net loss for the year 2024 is 157 million yuan"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/229904584.md"
description: "HCFA released its 2024 annual performance report, reporting an operating income of 815 million yuan during the reporting period, a year-on-year decrease of 26.99%; the net loss attributable to the parent company's owners was 157 million yuan. The main reasons include a decline in revenue from core business, an increase in period expenses, and an increase in asset impairment. The saturation of production capacity in the photovoltaic industry led to a decrease in sales, while the company increased investment in marketing and research and development, resulting in a reduction in net profit"
datetime: "2025-02-27T11:46:06.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/229904584.md)
  - [en](https://longbridge.com/en/news/229904584.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/229904584.md)
---

# HCFA's net loss for the year 2024 is 157 million yuan

According to the Zhitong Finance APP, HCFA (688320.SH) released its performance report for the year 2024. During the reporting period, the company achieved operating revenue of 815 million yuan, a decrease of 26.99% compared to the same period last year; the net loss attributable to the parent company was 157 million yuan.

During the reporting period, the company's operating revenue, net profit attributable to the parent company, and net profit attributable to the parent company after deducting non-recurring gains and losses all experienced significant declines, mainly due to the following reasons: 1. Decline in main business revenue. The company's major clients and end-users are primarily concentrated in the new energy industry. During the reporting period, due to the saturation of production capacity in the photovoltaic industry and a decrease in expansion demand, the sales volume of the company's products to photovoltaic industry clients declined. 2. Increase in period expenses. The company has added projects for inverters, precision guide screw rods, and industrial motors to capture market share in various sub-industries and enhance innovation capabilities, optimizing controllers and inverters, and developing application control systems for sub-industry solutions, continuing to increase market and R&D investments; the depreciation of fixed assets from the digital factory and Hangzhou Research Institute fundraising projects increased, leading to a year-on-year decrease in net profit. 3. Increase in asset impairment. Due to the company's product updates and iterations, the consumption rate of electronic raw materials procured and reserved in previous years has decreased, and the aging of inventory has increased, requiring the actual amount of asset impairment to be determined based on data audited by the accounting firm

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