US EditionTungray Technologies Inc Reports 2024 Full Year Financial Results
- Tungray Technologies Inc disclosed its fiscal year 2024 performance, highlighting a drop in revenue within the Singapore market.
- This decline followed intense price competition and economic pressures in manufacturing automation markets in China and Singapore.
- Total revenues dropped 10.8% to $12.8 million with operating loss of $0.7 million and net loss of $0.6 million in 2024.
- Chairman Wanjun Yao highlighted that although the company faced challenges affecting revenue and profits in 2024, it managed to grow its customer base, supported by a 34.3% increase in research and development spending.
- The company implemented cost controls, pursues strategic partnerships, and focuses on innovation to position for sustainable growth and long-term shareholder value.
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Rutland Herald+39 Reposted by 39 other sources
Tungray Technologies Inc Reports 2024 Full Year Financial Results
SINGAPORE, May 14, 2025 /PRNewswire/ -- Tungray Technologies Inc ("Tungray" or the "Company"), a global Engineer-to-Order (ETO) company, today reported its financial results for the twelve months ended December 31, 2024.
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Leaning Left3Leaning Right5Center13Last UpdatedBias Distribution62% Center
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