Shang Gong Group released the third quarter report for 2024, achieving operating income of 3.385 billion yuan in the first three quarters, a year-on-year increase of 25.71%; the net income attributable to shareholders of the listed company was a loss of 38.7555 million yuan; basic earnings per share was -0.0548 yuan. In the third quarter, operating income reached 1.084 billion yuan, a year-on-year increase of 13.54%; the net income attributable to shareholders of the listed company was a loss of 84.6999 million yuan. During the reporting period, the company incurred a certain loss in net income, mainly due to the negative impact of the European automotive industry, with a sharp decline in orders for high-margin medium-thick material sewing equipment at the wholly-owned subsidiary DA company in Germany, leading to an increase in manufacturing costs; in addition, newly acquired assets related to ICON were included in the consolidated financial statements, the US subsidiary is in a period of business integration, experiencing comprehensive impacts such as operating losses due to previous operational investments and support for the construction of domestic production facilities.