BRN Latest Report

Key Financial Data

1. Barnwell Industries' total operating revenue was US$4.477 million as of December 31, 2024, a 27.36% decrease from US$6.155 million in 2023. This significant decline reflects the pressure the company faces in the market.

2. Special items in operating expenses in 2024 were US$964,000, compared to -US$126,000 in 2023, and the sharp increase in expenses may lead to a decrease in the company's revenue-generating ability.

3. In the third quarter of 2024, Barnwell Industries' BDO integrated project performed well, with a production of 485,677.75 tons and a sales volume of 505,787.74 tons, achieving an operating revenue of RMB330 million, showing stable growth in market demand.

Peer Comparison

1. Industry-wide analysis: The change in the overall industry's operating revenue affects Barnwell Industries' performance. If other companies in the industry maintain growth, Barnwell Industries' decline may reflect its own management or market strategy issues.

2. Peer evaluation analysis: Compared to other companies in the same industry, Barnwell Industries' operating revenue decline is more significant, indicating its insufficient competitiveness in the market. Other companies generally performed well in 2024, such as one company achieving an operating revenue of RMB3.184 billion, up 21.68% year-on-year.

Summary

Barnwell Industries' operating revenue significantly decreased in 2024, mainly affected by the decline in market demand, increased competition, and increased expenses. Although the BDO project achieved certain sales, the overall revenue shrinkage poses a challenge to the company's financial health.

Opportunities

1. The potential recovery of BDO market demand in the future may bring growth opportunities for Barnwell Industries, especially when market prices stabilize.

2. If the company can effectively control costs and improve product quality, it will help restore customer trust and market share.

3. With the recovery of downstream industries under improved economic conditions, Barnwell Industries has the opportunity to enhance its operating revenue.

Risks

1. Future fluctuations in raw material prices may further squeeze the company's profit margin.

2. Uncertainties in the overall macro economy may lead to fluctuations in downstream market demand, affecting the company's operating revenue.

3. Increased competition within the industry, especially from large foreign enterprises, may further affect Barnwell Industries' market position and profitability.