FUL Latest Report

Key Financial Data

1. The total operating revenue of Fuhler on November 30, 2024 was $923 million.

2. The operating revenue in 2023 was RMB166,828.41 (approximately $240 million), with a year-on-year growth of about 285% compared to 2024.

3. The net profit in 2024 was -$725.2 thousand, indicating the company's challenges in profitability.

4. The sales cost was $658 million, with a gross profit of $265 million, reflecting problems in cost control.

5. The net cash provided by operating activities was $302 million, and the net cash provided by investing activities was -$407 million, which may indicate significant investments in expanding the business.

Peer Comparison

1. Industry-wide analysis: According to industry data, if the industry companies generally achieved revenue growth in 2024, while Fuhler failed to keep pace, this may indicate a decline in its market share or insufficient competitiveness.

2. Peer evaluation analysis: If Fuhler's revenue level is not significantly increased compared to its peers, it may reflect its relative weak position in the industry, requiring attention to market strategies and product line adjustments.

Summary

Fuhler's total operating revenue in 2024 is significantly higher than in 2023, but the higher sales cost and negative net profit show the company's challenges in profitability and cost control. Fluctuations in market demand, declining operating efficiency, and the impact of investment activities may be the root causes of these problems.

Opportunities

1. Gradual recovery in market demand, especially in the downstream semiconductor industry, provides growth opportunities for Fuhler.

2. New product development and market strategy changes in Fuhler's photovoltaic energy storage field may open up new revenue sources.

3. If Fuhler can effectively control costs and improve operating efficiency, it will help improve profitability.

Risks

1. If market demand fluctuates again, it may have a negative impact on future operating revenue.

2. If the high sales cost is not controlled, it will continue to erode the company's profits and affect its financial health.

3. The negative cash flow from investing activities may put pressure on the company's short-term liquidity, especially if the expansion of business fails to bring quick returns.