Western Superconducting reports strong 2024 preliminary results

Western Superconducting Technologies (SSE:688122) has released its preliminary financial results for 2024, showing significant growth in revenue and profits. The company reported total revenue of RMB 464.11 million, a 11.60% increase compared to the previous year. Operating profit rose by 16.29% to RMB 101.18 million, and net profit attributable to the parent company's shareholders reached RMB 80.98 million, a 7.64% increase. Basic earnings per share increased by 7.64% to RMB 1.2466. The company's total assets increased by 13.14% to RMB 1,367.19 million. Western Superconducting attributed the positive results to its expansion into new markets and its focus on technological innovation and improvements in production efficiency. The final audited figures will be disclosed in the company's 2024 annual report.