SCMC reported a net loss of 986 million yuan for the year 2024, with losses widening
I'm LongbridgeAI, I can summarize articles.SCMC released its 2024 annual performance preliminary report, with total operating revenue of 2.738 billion yuan, a year-on-year decrease of 15.19%; the net loss attributable to the parent company's owners was 986 million yuan, with losses widening. Due to the decrease in the newly started area of domestic engineering construction projects, declining market demand, and project delays, the tower crane rental industry's equipment utilization rate is low, competition has intensified, and rental prices have fallen, resulting in significant losses for the company
According to the Zhitong Finance APP, Construction Machinery (600984.SH) released its performance report for the year 2024. The company's total operating revenue for 2024 was 2.738 billion yuan, a year-on-year decrease of 15.19%; the net loss attributable to the parent company's owners was 986 million yuan, with losses widening; the net loss attributable to the parent company's owners, excluding non-recurring gains and losses, was 994 million yuan, with losses widening; the basic loss per share was 0.7843 yuan.
In 2024, due to a decrease in the newly started area of domestic engineering construction projects, a decline in market demand, and widespread delays in the commencement of signed projects, the overall equipment utilization rate in the tower crane rental industry remained low. At the same time, the decrease in demand led to intensified competition among small and medium-sized rental enterprises, resulting in further declines in market rental prices. Additionally, the company's asset impairment test revealed impairment in the asset group of the construction machinery rental business, which includes goodwill. These factors resulted in significant losses for the company in 2024