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On April 29, Biwin Storage unveiled its 2024 annual financial results, revealing a stellar performance. The company's total revenue for the year amounted to RMB 6.695 billion, reflecting an impressive 86.46% year-on-year growth. Net profit attributable to shareholders of listed companies surged significantly by 125.82%, reaching RMB 161 million, marking a successful turnaround from losses to profits. However, the company's momentum took a turn in its 2025 first-quarter report, released on the same day. Revenues for the quarter dipped to RMB 1.543 billion, down 10.62% year-on-year, while net loss attributable to shareholders of listed companies swelled to RMB 197 million, a stark reversal from profit to loss, with a year-on-year decrease of 217.87%.
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