SinoSynergy Hydrogen (9663.HK) Q4 2024 Earnings Report

SinoSynergy Hydrogen Energy reported QQ4 2024 revenue of 154.71 million CNY, with a gross profit of 19.63 million CNY and a gross margin of 12.69%. The quarter delivered a deep operating loss of 96.54 million CNY and a net loss of 97.44 million CNY, translating to negative profitability metrics across EBITDA (-81.24 million) and net margin (-63.0%). While year-over-year revenue declined by 36.6%, gross profit fell more sharply (-71.7%), indicating that top-line weakness disproportionately affected gross profitability given fixed cost absorption in the period. Notably, operating income improved on a year-over-year basis by about 36% despite the ongoing negative absolute level, suggesting some cost structure stabilization but still substantial absolute losses.