Summary by Moomoo AI
In the fiscal year 2024, Zhixin Group recorded a loss of 75.2 million yuan, while the previous year saw a profit of 10.08 million yuan. Total revenue for the year increased by 13.2% to 0.58 billion yuan, with significant growth in revenue from iron ore tailings recovery and Eco-friendly Concept brick business, which surged by 56.4% to 0.263 billion yuan. Ready-mixed concrete revenue rose by 17% to 0.303 billion yuan, but revenue from precast concrete components plummeted by 83.5% to 14.09 million yuan. The gross margin fell from 20.3% to 9.4%.The Group's ready-mixed concrete and precast concrete component business face severe challenges, mainly due to intensified competition in the Xiamen market, particularly with state-owned enterprises, resulting in the need to offer more price concessions to maintain competitiveness...Show More
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