Summary by Moomoo AI
Autozi reported FY2024 revenues of $124.7M, up 9.9% YoY, with auto parts and accessories sales surging 86.1% to $68.6M. The company's strategic shift towards high-margin segments improved gross profit margin to 1.0% from 0.4%. Operating loss narrowed by 25.6% to $5.4M, while net loss increased to $11.1M due to litigation-related costs.The company demonstrated strong progress in digital transformation, expanding its supply chain platform to include 3,410 manufacturers, 17,964 dealers, and 79,351 service stores. Recent developments include partnerships with 12 provincial distributors and logistics partnerships in eight provinces, strengthening distribution networks and market presence.Looking ahead, Autozi remains focused on supply chain digitalization and expanding its multi-business ecosystem through strategic acquisitions. Management emphasizes maintaining stable profitability through disciplined cost management while optimizing capital structure to support long-term growth objectives.
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