Summary by Moomoo AI
KIDZTECH Holdings' total revenue for the fiscal year 2024 has increased significantly by 66.5% year-on-year to 0.219 billion RMB, with revenue from smart model vehicles rising 70.5% to 0.215 billion RMB. Gross profit increased by 22% to 18.3 million RMB, but the gross margin fell by 3 percentage points to 8.4% due to a low gross margin sales strategy. The annual loss narrowed by 37.8% to 61.1 million RMB, mainly benefiting from revenue growth and a decrease in accounts receivable impairment losses.During the period, the group focused on expanding Hong Kong-exporting wholesalers and the Emerging Markets in Asia, establishing market growth points through a low gross margin sales strategy. Selling expenses significantly decreased to 7,000 RMB, mainly because transportation and marketing costs were borne by the Hong Kong...Show More
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