Rayitek Projects Significant Losses for 2024: Estimated Deficit of ¥53 Million to ¥68 Million

On January 17, Rayitek released its performance forecast for 2024, indicating that the net profit attributable to shareholders is expected to incur a loss ranging from ¥53 million to ¥68 million. This figure represents an increase in losses by ¥33.397 million to ¥48.397 million compared to the previous year, marking a year-on-year increase of 170.37% to 246.89%.

The announcement highlighted the main factors contributing to this downturn:

Increased Market Competition: The company faces intensified competition within the industry and adjustments in market demand. Additionally, the Jiaxing project is still in the ramp-up phase, leading to relatively high fixed costs and a decline in the overall gross profit margin.

Rising Management and Financial Costs: The commencement of the Jiaxing project has resulted in increased depreciation and capitalized interest, with management expenses and financial costs rising approximately 30% and 115% respectively. This comprehensive impact has exacerbated the losses compared to the previous year.

Despite these challenges, the company remains proactive in adapting to the changing economic environment. Rayitek is focusing on market expansion, adjusting its product structure, and steadily enhancing the production capacity and yield of the Jiaxing production line. It anticipates achieving operating revenues between ¥330 million and ¥350 million, representing a year-on-year growth of 19.60% to 26.84%.