CX Latest Report

Performance of the Quarterly Report

Based on the provided data, CX's total operating revenue as of December 31, 2024 was USD3.811 billion, a YoY decrease of 5.39%. This change reflects a decline in the company's revenue over the past year, which may affect its overall financial health. This trend is closely related to the global economic slowdown, intensified market competition, and weakened industry demand.

Key Data in the Quarterly Report

1. The total operating revenue in 2024 was USD3.811 billion, a YoY decrease of 5.39%.

2. The sales cost decreased from USD2.654 billion in 2023 to USD2.587 billion in 2024, indicating an improvement in cost control.

3. According to B of A Securities' analysis, CX's operating revenue in 2023 was USD17.388 billion, a YoY decrease of 11.63%.

4. In Q1 2024, CX's operating revenue was USD4.138 billion, a YoY increase of only 2.52%.

5. The overall operating revenue of companies listed on the Sci-tech Board grew by 4.7% in 2023, contrasting with CX's decline.

Peer Comparison

1. Industry-wide analysis: If the overall industry operating revenue also decreases, it may be due to the economic slowdown or weakened market demand. Conversely, if the overall industry revenue remains growing while CX's decreases, it indicates a weakening of the company's competitiveness in the market. According to 2023 data, companies in the same industry generally maintained growth, indicating that CX's market performance is relatively poor. [Source](http://fund.10jqka.com.cn/20250210/c665901537.shtml)

2. Peer evaluation analysis: Compared with other companies in the same industry, CX's operating revenue decline is significant, possibly reflecting a loss of market share or a decrease in product competitiveness. For example, Li Auto is expected to achieve a revenue of RMB147.6 billion in 2024, showing strong growth potential, contrasting with CX's decline. [Source](http://stock.10jqka.com.cn/hks/20250210/c665901532.shtml)

Summary

CX's operating revenue decline in 2024 is evident, and this change is not only affected by the unfavorable economic environment but also by factors such as intensified market competition and internal product line adjustments. Compared with other companies in the same industry, CX faces significant competition pressure and a significant loss of market share.

Opportunities

1. Improvement in cost control can be continued to optimize operations and improve profitability.

2. There are still companies in the industry that maintain growth, and CX can learn from their successful experiences and adjust its market strategy.

3. If proactive measures are taken in product innovation or market expansion, revenue growth may be restored.

Risks

1. The global economic slowdown may further affect consumer spending, leading to a continuous decline in operating revenue.

2. Intensified competition in the industry may result in a loss of more market share, affecting long-term profitability.

3. External factors such as supply chain issues or a slow recovery from the post-pandemic market may continue to negatively impact operating revenue.