Gelonghui, Feb. 21丨Tengjing Technology (688195.SH) announced its 2023 annual performance report. During the reporting period, the company achieved total revenue of 33,9911,400 yuan, which is basically the same as the same period last year; achieved net profit attributable to owners of the parent company of 418.394 million yuan, a decrease of 28.34% over the same period of the previous year; realized net profit attributable to owners of the parent company after deducting non-recurring profit and loss of 36.024 million yuan, a decrease of 23.68% from the same period last year.
During the reporting period, due to inventory removal from downstream optical communication customers, demand from overseas telecom and traditional data centers gradually slowed, and the company's revenue in the optical communication sector declined; downstream demand for industrial lasers recovered steadily, and businesses in emerging application fields continued to be developed. The commissioning and use of new key production facilities increased fixed costs such as depreciation and amortization, and the scale effect was not yet effective.