Gelonghui September 30th | China highprecision (00591.HK) announced that as of June 30, 2024, the annual performance, the company achieved a revenue of 0.139 billion yuan, a decrease of 1.6% year-on-year; the net loss attributable to owners of the company was 32.735 million yuan, an increase of 44.3% year-on-year; basic and diluted loss per share was RMB 3.16.

The revenue decreased by approximately 1.6% compared to last year. The main reasons for the decrease include lower-than-expected demand in some downstream markets of the group due to the global economic downturn, as well as intense competition in the automation instrument and technology products, and clock instrument industries, leading to reduced sales of automation instrument and technology products as well as clock instruments. The global economic slowdown has also delayed the start of large projects in China, putting considerable pressure on the group's market development.