Navigating Rough Waters: TENPRE's Revenue Decline and the Path to Recovery in 2024

Performance Review

TENPRE's operating revenue in 2024 was RMB188,260,000, a decrease of approximately 14.54% from RMB220,241,000 in 2023. This change reflects significant challenges in revenue generation, which may affect its overall profitability.

Key Financial Data

1. Operating revenue decreased by approximately 14.54%, from RMB220,241,000 to RMB188,260,000, indicating a significant decline in revenue.

2. Possible reasons for the decline include weakened market demand, increased sales costs, reduced operational efficiency, and uncertainty in the external economic environment.

3. The weak demand for oil transportation in 2024 led to a 2% YoY decrease in oil transportation volume, affecting the overall revenue performance of the industry.

4. Other companies in the industry such as COSCO Shipping Energy and China Merchants Tanker also experienced a YoY decrease in their performance, by 11% and 12% respectively, indicating pressure faced by the industry as a whole.

Peer Comparison

1. Industry-wide analysis: The overall operating revenue of the energy shipping industry is affected by global economic fluctuations and oil price changes, generally declining. If the overall revenue performance of the industry is poor, it may be an external factor for the decline in TENPRE's revenue.

2. Peer evaluation analysis: If the decline in TENPRE's revenue is greater than the industry average, it may indicate its disadvantage in market competition and requires attention to changes in market share and competition strategy.

Summary

TENPRE faced a significant revenue decline in 2024, mainly affected by weakened market demand and increased industry competition. The overall economic environment and changes in industry policies may also be important factors leading to the revenue decline.

Opportunities

1. With the recovery of the global economy, market demand is expected to gradually improve, which may bring growth opportunities for TENPRE in the future.

2. The Company can improve its profitability by enhancing operational efficiency and cost control to enhance its market competitiveness.

3. If other companies in the industry improve their performance through innovation and strategic adjustments, TENPRE may also benefit from the overall industry recovery.

Risks

1. The continuous decline in the industry's overall operating revenue may affect TENPRE's market position and sales capabilities.

2. The continuous increase in sales costs may put more pressure on pricing and further affect operating revenue.

3. Uncertainty in the external economic environment and policy changes may pose a continuous threat to the Company's operating revenue.