FSEA Latest Report

Financial Performance

First Seacoast's total operating revenue in 2024 was RMB33,510,000, a significant improvement from RMB-10,630,000 in 2023, indicating the company's recovery and growth in revenue. This change reflects the company's achievement of positive revenue growth, reflecting the improvement in its business operations.

Key Financial Data

1. The total operating revenue in 2024 was RMB33,510,000, compared to RMB-10,630,000 in 2023, showing strong recovery ability, possibly benefiting from the recovery of market demand and the successful implementation of the company's business strategy.

2. Insurance business revenue in 2024 was RMB19,000, slightly lower than RMB21,000 in 2023, but the overall growth in operating revenue indicates that revenue growth in other business sectors may offset this decline.

3. The pre-tax profit in 2024 was RMB1,400,000, compared to RMB-67,120,000 in 2023, showing the company's progress in controlling costs and improving efficiency.

4. Although the net profit in 2024 remained negative, it recovered from a loss of RMB14,080,000, showing the company's efforts and achievements in reducing losses, which may lay the foundation for future profitability.

Peer Comparison

1. Industry-wide analysis: The overall financial services industry has generally recovered from the pandemic, with income rebounding, and competition intensifying, but the warming market demand provides growth opportunities for the company, and the improvement in total operating revenue reflects the signal of economic recovery.

2. Peer evaluation analysis: First Seacoast's total operating revenue recovery is relatively fast, especially after experiencing negative revenue, showing strong market adaptability and business adjustment capabilities, although still facing losses, the company's recovery momentum is more obvious than the industry's overall performance.

Summary

First Seacoast achieved significant growth in operating revenue in 2024, mainly benefiting from market recovery and internal strategic adjustments. Although still facing losses, the overall financial situation has improved, showing the company's recovery potential and market adaptability.

Opportunities

1. With the recovery of the global shipping industry, First Seacoast can further enhance operating revenue by taking advantage of the rebound in market demand.

2. The company can continue to optimize production processes to reduce costs and improve gross margin, enhancing competitiveness.

3. Driven by technological innovation and digital transformation, First Seacoast can find new business opportunities in the shipping transportation market.

Risks

1. Intensified industry competition may affect the company's market share and profitability.

2. Fluctuations in raw material prices and supply chain risks may put pressure on production and costs.

3. Although the financial situation has improved, attention should still be paid to the potential impact of continued losses on the company's long-term development.