FORD Latest Report

Performance Review

Forward Industries (stock code: FORD) faced a significant decline in operating revenue in 2024, with a total operating revenue of RMB661.56 billion as of December 31, 2024, down approximately 7.48% YoY. This performance reflects the challenges the company faces in the market environment, which may have a negative impact on its future financial health and investor confidence.

Key Financial Data

1. Operating revenue in 2024 was RMB661.56 billion, down approximately 7.48% YoY from RMB715.19 billion in 2023.

2. Sales costs in 2024 were RMB511.45 billion, down from RMB550.94 billion in 2023, but the decrease in gross profit affected profitability.

3. The decline in sales due to market demand fluctuations needs attention.

4. Special operating expenses increased by RMB22.5 billion in 2024, negatively affecting operating revenue.

5. Non-current operating income was not reported in 2024, compared to RMB26.955 billion in 2023, which may lead to a decrease in total revenue.

6. Macro-economic factors such as global economic slowdown and supply chain issues put pressure on sales performance.

Peer Comparison

1. Industry-wide analysis: The automotive industry faced demand weakness and supply chain issues in 2024, with many traditional car manufacturers experiencing a decline in operating revenue, reflecting the overall industry downturn.

2. Peer evaluation analysis: Forward Industries' revenue decline was significant, and attention should be paid to changes in competitors' revenue to assess its market performance. If competitors maintain or grow revenue at the same time, it may indicate that Forward Industries' market share is shrinking.

Summary

Forward Industries' operating revenue declined significantly in 2024, mainly affected by factors such as sales costs, insufficient market demand, increased special expenses, and the absence of non-current operating income. The overall industry downturn and intensified competition make the company face greater market challenges.

Opportunities

1. Enhance user experience through digital services and intelligent configurations to increase market competitiveness.

2. Achieve breakthroughs in the electric vehicle sector and optimize supply chain management to maintain growth in competition.

3. Focus on core businesses after strategic transformation, which may improve operating efficiency and market performance.

Risks

1. Global supply chain pressures and economic uncertainties may further affect the company's operations and financial performance.

2. Intense competition, especially in the electric vehicle market, may erode Forward Industries' market share.

3. The absence of special expenses and non-current operating income may continue to put pressure on financial health.