Beidouxing.com (002151.SZ) announced 2024 results, changing profit to loss of 350 million yuan

According to the Zhitong Finance App, Beidou Xingtong (002151.SZ) released its 2024 annual report. During the reporting period, the company achieved revenue of 1,498 billion yuan, a year-on-year decrease of 63.30%. Net loss attributable to shareholders of listed companies was 350 million yuan. Net loss of $417 million attributable to shareholders of listed companies after deducting non-recurring profit and loss. The basic loss per share was $0.65.

During the reporting period, the chip and data services business achieved revenue of 663 million yuan, a year-on-year decrease of 8.23%. Mainly due to the impact of the overall situation in the industry, some projects were cancelled or postponed, down 58% year on year; large-scale shipments of consumer chips began in the three major directions of wearables, two-wheelers, and the Internet of Things, and revenue broke through the 100 million yuan mark, an increase of 113% over the previous year. In terms of marketing, it has benefited from the increase in the penetration rate of smart driving in passenger cars, and shipments have grown rapidly. The products have covered leading domestic customers, and the market share has steadily increased; cloud services have been successfully introduced to customers in the agricultural machinery, surveying and mapping and commercial smart driving industries, with a total of 70,000 end users.

During the reporting period, navigation products achieved revenue of 690 million yuan, an increase of 8.37% over the previous year. Mainly due to the remarkable results of major customer strategies in the antenna business, steady revenue growth, and significant year-on-year increase in revenue and overseas revenue; in the passenger car market, vehicle production line construction was completed, and multiple car companies' platforms were fixed, and vehicle antennas will become an important strategic direction for antenna business in the future; after some foreign agent resources terminated cooperation, the international agency business leverages channel advantages and introduced a domestic agent product line. After a year of market cultivation, the Livox product line was widely used in surveying, mapping, robotics, etc., and revenue increased dramatically.

During the reporting period, ceramic components achieved revenue of 145 million yuan. The year-on-year increase was 12.84%. Mainly due to the company's continuous R&D investment and continuous development of new markets, the products are widely used in mobile communications, consumer electronics, automotive electronics, optical communications, satellite communications and other markets.