Tungray Technologies Reports 12.1% Revenue Decline and $0.6M Net Loss for 2024

Reuters

05/15

Tungray Technologies Reports 12.1% Revenue Decline and $0.6M Net Loss for 2024

Tungray Technologies Inc. has released its consolidated results of operations for the year ended December 31, 2024. The company reported revenues of $12.81 million, a decrease from $14.36 million in 2023 and $16.33 million in 2022. The gross profit for 2024 was $5.60 million, down from $6.71 million in 2023 and $9.27 million in 2022. The company has emphasized its focus on enhancing customer retention strategies and expanding high-value customer relationships, as the average revenue per customer decreased significantly to approximately $70,000 in 2024, compared to $101,000 in 2023 and $124,000 in 2022. Tungray has not entered into any hedging transactions to manage foreign exchange risk, despite having multiple operating entities with different functional currencies, which may affect its financial results due to fluctuations in exchange rates. Overall, Tungray remains committed to investing in technology to drive sustainable revenue growth amid these challenges.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Tungray Technologies Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001096906-25-000785), on May 14, 2025, and is solely responsible for the information contained therein.

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The company reported revenues of $12.81 million, a decrease from $14.36 million in 2023 and $16.33 million in 2022. The gross profit for 2024 was $5.60 million, down from $6.71 million in 2023 and $9.27 million in 2022. The company has emphasized its focus on enhancing customer retention strategies and expanding high-value customer relationships, as the average revenue per customer decreased significantly to approximately $70,000 in 2024, compared to $101,000 in 2023 and $124,000 in 2022. Tungray has not entered into any hedging transactions to manage foreign exchange risk, despite having multiple operating entities with different functional currencies, which may affect its financial results due to fluctuations in exchange rates. 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The company reported revenues of $12.81 million, a decrease from $14.36 million in 2023 and $16.33 million in 2022. The gross profit for 2024 was $5.60 million, down from $6.71 million in 2023 and $9.27 million in 2022. The company has emphasized its focus on enhancing customer retention strategies and expanding high-value customer relationships, as the average revenue per customer decreased significantly to approximately $70,000 in 2024, compared to $101,000 in 2023 and $124,000 in 2022. Tungray has not entered into any hedging transactions to manage foreign exchange risk, despite having multiple operating entities with different functional currencies, which may affect its financial results due to fluctuations in exchange rates. 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ID: 0001096906-25-000785), on May 14, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TRSG","symbol_name":"Tungray Technologies Inc","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250514:nNDL1zHw2H:1","article_id":"2535009807","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2535009807","pubTimestamp":1747247210,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Tungray Technologies Inc. has released its consolidated results of operations for the year ended December 31, 2024. The company reported revenues of $12.81 million, a decrease from $14.36 million in 2023 and $16.33 million in 2022. The gross profit for 2024 was $5.60 million, down from $6.71 million in 2023 and $9.27 million in 2022. The company has emphasized its focus on enhancing customer retention strategies and expanding high-value customer relationships, as the average revenue per customer decreased significantly to approximately $70,000 in 2024, compared to $101,000 in 2023 and $124,000 in 2022. Tungray has not entered into any hedging transactions to manage foreign exchange risk, despite having multiple operating entities with different functional currencies, which may affect its financial results due to fluctuations in exchange rates. 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Tungray Technologies Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001096906-25-000785), on May 14, 2025, and is solely responsible for the information contained therein.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}