Zhongtong Financial News APP, china highprecision (00591) announced its full-year performance for the fiscal year ended June 30, 2024, with revenue of 0.139 billion yuan (RMB, the same below), a decrease of 1.65% year-on-year; shareholders' attributable loss was 32.735 million yuan, a 44.26% increase year-on-year; basic loss per share was 3.16 cents.

The announcement stated that the decline in revenue was mainly due to the lower-than-expected demand in some downstream markets of the group under the global economic downturn, as well as fierce competition in the automation instruments and technical products; and the watch instrument industry, resulting in reduced sales of automation instruments and technical products as well as watch instruments. The global economic slowdown also delayed the start of large projects in China, putting significant pressure on the group's market development.