XDC(300615) 金融界·2025-04-22 07:09Core Viewpoint - Xintian Technology (欣天科技) reported a significant decline in its 2024 annual performance, with total revenue dropping to 277 million yuan, a year-on-year decrease of 55.02%, and a net profit loss of 18 million yuan, reflecting a staggering year-on-year decline of 130.38% [1][4]. Group 1: Performance Overview - The company's total revenue for 2024 was 277 million yuan, down 55.02% year-on-year [1]. - The net profit attributable to shareholders was -18 million yuan, a year-on-year drop of 130.38% [1]. - The non-recurring net profit was -23.17 million yuan, representing a 143.12% decline year-on-year [1]. Group 2: Market Conditions - The slowdown in global 5G network construction, particularly in Europe and the United States, has adversely affected the company's communication business [4]. - Sales volume of communication products decreased by 54.28% year-on-year, with main business revenue declining by 55.85% [4]. - The stagnation of projects in the Indian market significantly impacted the company's performance, as previous infrastructure expansion had driven growth [4]. Group 3: Emerging Business Challenges - Although there was growth in the product lines related to new energy and medical devices, these businesses have not yet achieved scale effects, contributing minimally to overall performance [5]. - Production capacity for new energy and medical components remained stable compared to the previous year, but sales and revenue did not meet expectations [5]. - The potential for new energy and medical products to become new growth points remains uncertain and requires time for market expansion [5]. Group 4: Cost and Profitability Issues - The company faced increased cost control pressures due to rising raw material prices, leading to higher operating costs and reduced profit margins [6]. - The comprehensive gross margin decreased by 7.35% year-on-year, reaching 21.68% [6]. - Period expenses increased, with sales expenses rising by 102.63 thousand yuan and management expenses increasing by 225.45 thousand yuan, primarily due to higher depreciation and amortization costs [6].