YICHEN IND released its annual performance, with a net loss attributable to the parent company of 50.61 million yuan, turning from profit to loss year-on-year
YICHEN IND released its annual performance for the year ending December 31, 2024, with total operating revenue of 1.091 billion yuan, a year-on-year decrease of 8.8%. The net loss attributable to the parent company's owners was 50.61 million yuan, compared to a net profit of 49.445 million yuan in the same period last year. The loss per share was 0.06 yuan, and a final dividend of 0.0168 yuan is proposed. The total loss for 2024 is approximately 57.5 million yuan, mainly affected by the construction progress of railway projects, changes in product structure, and a sluggish macroeconomic environment
According to the Zhitong Finance APP, YICHEN IND (01596) released its annual performance for the year ending December 31, 2024. The group achieved total operating revenue of RMB 1.091 billion, a year-on-year decrease of 8.8%; the net loss attributable to the owners of the parent company was RMB 50.61 million, compared to a net profit of RMB 49.445 million in the same period last year; the loss per share was RMB 0.06, and a final dividend of RMB 0.0168 per share is proposed.
In 2024, the group incurred a total loss of approximately RMB 57.5 million, compared to a total profit of approximately RMB 50.1 million in 2023, representing a year-on-year decline of about 214.7%. This was mainly due to the impact of the construction progress of railway project engineering and changes in product structure, resulting in a decrease in gross profit from the company's products for the year ending December 31, 2024; the price fluctuations of the Hong Kong-listed company stocks previously held by the company led to increased losses related to the fair value changes of trading financial assets and investment losses, and as of December 31, 2024, the company no longer held Hong Kong-listed company stocks; and the weak macroeconomic situation extended the collection cycle of accounts receivable, leading to an increase in credit impairment losses recognized by the company based on the expected credit loss model
