News and Blog
Blog
Business Financial Report Analysis
In the Q1 2024 report, revenue came in at 221 million, virtually flat year-over-year, with a mere 0.01% increase. However, net profit plunged to -13.0174 million, representing a 69.65% drop compared to the same period last year. This highlights significant cost pressures in the tile business amid intense market competition. The interim report showed revenue reaching 559 million.
Release date:
2025-03-05 08:38
Source:
In the Q1 2024 earnings report, revenue stood at 221 million, virtually unchanged year-on-year, with a marginal increase of just 0.01%. However, net profit plunged to -13.0174 million, a steep 69.65% drop compared to the same period last year. This reflects significant cost pressures in the tile business amid intense market competition. The interim report revealed even steeper declines: revenue fell by 1.55% to 559 million, while net profit nosedived by 98.56% to just 2.4289 million, signaling a severe erosion in profitability. By Q3 2024, revenue further contracted by 5.27% to 889 million, and net loss widened dramatically to -33.0729 million, representing a staggering 130.38% decline from the previous year. Looking at the full-year results for 2024, revenue totaled 1.204 billion, down 5.79% compared to the prior year, while net losses ballooned to 147 million—a jaw-dropping 393.87% drop from 2023. In contrast, 2023 saw robust growth: revenue surged 9.94% to 1.278 billion, and net profit soared 118.02% to 50.0638 million. Clearly, the company’s tile business took a sharp downturn in 2024, largely due to intensifying industry competition, limited capacity expansion through OEM partnerships, and mounting challenges in promoting high-margin, large-format products—key drivers behind the double-digit declines in both revenue and profitability. Despite the company’s ambitious plan to invest 1.25 billion yuan in building four new high-end tile production lines, short-term performance improvements remain under significant pressure as market demand shows little sign of recovery.
Related News
Food Additive Silicon Dioxide: Complete 2026 Guide to Uses, Safety & Supply
This guide covers all critical information about Food Additive Silicon Dioxide, from definition and functions to safety compliance and supplier selection. We draw on over 35 years of precipitated silica manufacturing experience from Baitanhei (en.baitanhei.com) to deliver accurate, actionable insights for food manufacturers and procurement teams in 2026.
Food Additive Silicon Dioxide: Complete 2026 Guide for Buyers & Manufacturers
This 2026 updated guide covers core knowledge of Food Additive Silicon Dioxide, from definition, functions, safety compliance to quality selection tips. We draw on Baitanhei’s 25 years of production experience and industry data to answer common questions, helping food businesses source high-quality food grade silica reliably.
Food Additive Silicon Dioxide: Complete Guide to Uses, Safety & Suppliers 2026
This guide covers all core information about Food Additive Silicon Dioxide for food manufacturers and procurement professionals, compiled by Baitanhei’s R&D team based on decades of manufacturing experience. It includes definitions, safety assessments, application cases, and supplier selection tips to help you make informed decisions in 2026.
2026 Complete Guide: Precipitated Silica Properties, Uses & Top Manufacturer
This 2026 complete guide covers all key aspects of precipitated silica, including its definition, core properties, common applications, comparison with other silica products, and selection tips. Written by experienced manufacturing experts from Baitanhei, this guide draws on 35+ years of production and application practice to help engineers, procurement professionals, and product developers make informed decisions for their projects.
2026 Complete Guide to Precipitated Silica: Properties, Uses & Selection Tips
This 2026 practical guide covers all key aspects of precipitated silica, including its definition, manufacturing process, core properties, common applications, and comparison with other silica types. We share hands-on manufacturing experience backed by latest industry data to help you select the right grade for your specific use case. It delivers actionable insights for professionals across tire, food, cosmetic and pharmaceutical industries.
2026 Complete Guide: Precipitated Silica Uses, Benefits & Sourcing
This 2026 complete guide covers everything you need to know about precipitated silica, from core definitions and manufacturing processes to key applications and quality selection standards. Drawing on decades of manufacturing experience from Baitanhei, we compare precipitated silica with alternative products, answer common buyer questions, and share professional sourcing tips for all industries.
Leave a message for inquiry
We provide professional solutions tailored to a wide range of industries, including paints, rubber, food, pesticides, and more.
