Nanyang Topsec cuts losses 69% despite revenue decline

Nanyang Topsec Technologies Group reported a net loss of 64.7 million yuan, a 68.56% improvement from the previous year despite revenue falling 5.38% to 826.3 million yuan.

The improvement was driven by a 14.04% reduction in total expenses including sales, R&D and administrative costs, while gross profit margin increased by 4.1 percentage points.

Key growth areas included financial services, which grew 19.52%, and transportation, which surged 60.78%. The company also received approval to purchase up to 1.8 billion yuan in wealth management products.