FiberHome's 2024 net profit soars 38.38%

FiberHome Telecommunication Technologies (SSE:600498) announced its preliminary financial results for 2024, revealing a 38.38% year-over-year surge in net profit attributable to shareholders, reaching CNY 699.34 million. This growth occurred despite a decrease in total operating revenue by 8.44% to CNY 28.50 billion. The company attributed the profit increase to enhanced cost management and increased R&D efficiency. Earnings per share rose 37.21% to CNY 0.59. Total assets increased modestly by 4.25% to CNY 43.71 billion, and net assets attributable to shareholders grew by 6.10% to CNY 13.98 billion, representing a net asset value per share of CNY 11.80. While growth-oriented businesses like computing power maintained momentum, overall revenue was affected by customer capital expenditure cycles and geopolitical factors. The final, audited results will be disclosed in the company's 2024 annual report.