GRG Banking maintains AAA credit rating despite margin decline

GRG Banking Equipment has maintained its AAA credit rating with stable outlook, despite facing margin pressures in 2024.

The company, which has held the largest domestic market share in financial electronic equipment for 17 consecutive years, reported total assets of 280.94 billion yuan and revenue of 108.66 billion yuan in 2024.

However, gross profit margin declined to 31.11% from 35.88% the previous year, primarily due to increased bulk purchasing by customers and lower margins from newly integrated smart computing device businesses.