Venustech 2024 Annual Report: Operating Income Down 26.4%, Net Loss of $226 Million
Venustech 2024 Annual Report
April 15, 2025, Venustech released its 2024 annual report.
2024 was the first full fiscal year in which Venustech was deeply integrated into the China Mobile system, and it was also the first fiscal year since the company's listing that it incurred a loss. In 2024, the company's operating revenue was 3.315 billion yuan (-26.4%), with a net loss of 226 million yuan. The core issue was the dual pressure of shrinking traditional security demand and increased investment during the cultivation period of new businesses.
Despite the company's clear strategic positioning as a professional cybersecurity subsidiary of China Mobile and its active and comprehensive integration into the China Mobile system with a focus on AI investment, the synergistic effect has yet to be demonstrated. In 2024, the related-party transactions between Venustech and China Mobile amounted to 1.083 billion yuan, a decrease of 398 million yuan compared to 2023.
At the same time, as a leading cybersecurity enterprise with large customer sales as a typical representative, Venustech also faced serious collection issues. In 2024, the balance of Venustech's accounts receivable reached 4.732 billion yuan (equivalent to 1.4 times the revenue), and the credit impairment loss caused by accounts receivable amounted to 250 million yuan, which was also one of the reasons for the company's profit loss.
Financial Report Download
https://drive.google.com/drive/folders/1bChbnMwj37qUuZ-Y_jAklMFHO9gLe3wX?usp=share_link
