Xinhai Technology (688595.SH) released its 2023 annual report. The company's revenue was 433 million yuan, with...
According to the Zhitong Finance App, Xinhai Technology (688595.SH) released its 2023 annual report. The company's operating income was 433 million yuan, down 29.91% from the previous year; net loss attributable to shareholders of listed companies was 143 million yuan, which changed from profit to loss; net loss attributable to shareholders of listed companies after deducting non-recurring profit and loss of 157 million yuan, the loss increased; and the basic loss per share was 1.01 yuan/share.
During the reporting period, due to the long-term impact of the global economic downturn in 2022 and domestic and foreign market demand shrinking to varying degrees, overall downstream demand remained low in the first half of 2023. At the same time, due to the mismatch between supply and demand caused by high inventories on the industrial supply chain side, prices of some products were under pressure during the de-inventory process, and the gross margin level of some products was greatly affected. In the second half of 2023, the industry picked up markedly, and market demand gradually recovered.