Transsion Holdings reports slight profit increase for 2024

Shenzhen Transsion Holdings (SSE:688036) announced a 10.35% increase in total revenue for 2024, reaching 6.874 billion yuan, according to its preliminary financial report. However, operating profit decreased by 2.70% to 656.47 million yuan. Net profit attributable to shareholders increased marginally by 0.96% to 559.01 million yuan. Basic earnings per share decreased by 28.20% due to an increase in share capital following a capitalization of capital reserves. The company's total assets decreased slightly by 1.82%, while net assets attributable to shareholders increased by 12.08%. The company attributed the revenue increase to expanded market reach and product upgrades, while profitability was affected by market competition and supply chain costs. Investors are advised that the figures are preliminary and unaudited.