Sunrise New Energy Co. Ltd. has released its financial results for the fiscal year ending December 31, 2024. The company reported a significant increase in revenues, which rose by $19.947 million, or 44.28%, from $45.050 million in 2023 to $64.998 million in 2024. This increase was primarily driven by the company's graphite anode material sales business, which accounted for 99.03% of net revenues in 2024, compared to 98.52% in 2023. However, the company also reported a net loss attributable to ordinary shareholders of $11.776 million, compared to a net loss of $24.233 million in the previous year. The comprehensive loss attributable to ordinary shareholders was $12.364 million, down from $24.866 million in 2023. The basic and diluted loss per share for Class A and Class B ordinary shares was reported at $0.48, compared to $1.08 in the prior year. A foreign currency translation adjustment contributed to an other comprehensive loss of $962,919, compared to $1.166 million in 2023. Despite the financial challenges, Sunrise New Energy Co. Ltd. continues to focus on its core business of graphite anode material sales while reporting a marginal decrease in revenues from its knowledge sharing and enterprise business segment.
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