On August 30, GeLongHui reported that Jiangsu Beiren Smart Manufacturing Technology (688218.SH) released its semi-annual report for 2024, achieving revenue of 0.287 billion yuan, a decrease of 27.74% year-on-year; net income attributable to shareholders of the listed company was 17.6679 million yuan, a decrease of 43.41% year-on-year; net income attributable to shareholders of the listed company excluding non-recurring gains and losses was 11.7599 million yuan, a decrease of 50.81% year-on-year; basic earnings per share was 0.15 yuan.
During this reporting period, the company's revenue and net income both decreased compared to the same period last year. The main reasons include: 1. Due to the characteristics of non-standard customized intelligent manufacturing in the industry, the company is highly correlated with the industry development cycle and downstream customer fixed asset investment plans in terms of order acquisition and project acceptance, leading to revenue fluctuations in different years. 2. In recent years, the intensifying competition in the auto industry market has affected the profit margins of upstream and downstream companies in the supply chain due to price competition from complete vehicle manufacturers. To cope with industry consolidation, the company will abandon some low-margin projects with vicious competition, resulting in a decrease in revenue during this reporting period compared to the same period last year. On the other hand, the company is actively adjusting its customer structure and expanding into overseas markets.