SST Latest Report

Performance of the Current Financial Report

Based on the provided data, SST's operating revenue totalled RMB755,950,000 as of December 31, 2024, a year-on-year decrease of approximately 21.38% from RMB961,200,000 as of December 31, 2023. This decline indicates a decline in the company's sales performance during the fiscal year, which may affect its overall profitability and market performance.

Key Data from the Financial Report

1. SST's operating revenue decreased by 21.38%, significantly lower than the previous year's performance, indicating a weakening of the company's competitiveness in the market.

2. Intensified market competition and changes in product demand may be the main reasons for the revenue decline.

3. Uncertainty in the overall economic environment, particularly fluctuations in the commodity market, may have had a negative impact on the company's sales.

4. External factors such as the pandemic and supply chain issues may also have had a negative impact on the company's sales.

Peer Comparison

1. Industry-wide analysis: When analyzing the change in SST's operating revenue, attention should be paid to the overall performance of the industry. In 2024, the overall economic environment continued to be under pressure, leading to a general decline in the revenue and gross margin levels of listed companies in the same industry. For example, Yunnan Yunwei's gross margin decreased significantly, indicating the industry's common challenges of intensified competition and reduced customer demand.

2. Peer evaluation analysis: According to the data, *ST Coship achieved an operating revenue of RMB237 million in the first three quarters of 2024, up 15.66% year-on-year, while CCB's operating revenue in the first half of 2024 was RMB1.4375 billion, down 39.79% year-on-year. This indicates that SST's performance is relatively poor, especially compared to companies that show signs of recovery in the industry, contrasting with the overall market performance.

Summary

SST's significant decline in operating revenue is mainly affected by intensified market competition, changes in product demand, and the unfavorable overall economic environment. Although there is potential for new product launches, especially in high-tech fields, the short-term sales performance is still suppressed by various factors, showing the company's challenges and pressures in the market.

Opportunities

1. SST may enhance its operating revenue through the launch of new products, especially in high-tech fields.

2. With the continuous growth of the new energy vehicle market, the expansion of the market share of related products may bring new revenue opportunities.

3. If the company can successfully adjust its sales strategy and address the current market competition issues, it may see a turning point in business growth.

Risks

1. Intensified market competition may further squeeze the company's market share and profit margin.

2. Uncertainty in the overall economic environment may lead to further weakening of consumer demand, affecting sales performance.

3. External factors such as supply chain issues and the continued impact of the pandemic may negatively affect the company's overall operations.