{"id":17379,"date":"2025-01-28T16:57:03","date_gmt":"2025-01-28T09:57:03","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=17379"},"modified":"2025-01-28T16:57:03","modified_gmt":"2025-01-28T09:57:03","slug":"autozi-internet-technology-global-ltd-announces-fiscal-year-2024-financial-results-and-files-its-annual-report-on-form-20-f","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=17379","title":{"rendered":"Autozi Internet Technology (Global) Ltd. Announces Fiscal Year 2024 Financial Results and Files Its Annual Report on Form 20-F"},"content":{"rendered":"

BEIJING<\/span>, Jan. 28, 2025 \/PRNewswire\/ — Autozi Internet Technology (Global) Ltd. (“Autozi” or the “Company”) (Nasdaq: AZI), one of the leading and fast-growing lifecycle automotive service providers in China<\/span>, today announced its financial results for the fiscal year ended September 30, 2024<\/span>. The Company also filed its annual report on Form 20-F for the fiscal year ended September 30, 2024<\/span> with the Securities and Exchange Commission (the “SEC”) on January 27, 2025<\/span>, U.S. Eastern Time.\u00a0The annual report can be accessed on the SEC’s website at www.sec.gov<\/a>.<\/span><\/p>\n

Management Commentary<\/b><\/p>\n

Dr. Houqi Zhang, Founder, Chairman, and Chief Executive Officer of Autozi<\/b>, commented. “As we conclude a successful fiscal year 2024, I am proud of Autozi’s continued progress in advancing our supply chain digitalization platform, which is a core driver of our strategic transformation toward a more intelligent and light-asset business model. Leveraging cutting-edge technologies such as artificial intelligence, big data, cloud computing, and the Internet of Things, we have significantly enhanced our end-to-end digital integration, enabling more efficient collaboration and streamlined processes across the entire supply chain. In addition, we completed our initial public offering on the NASDAQ Global Market in August, further expanding our access to capital, heightening our brand visibility, and marking our entrance to the global stage.”<\/p>\n

Dr. Zhang continued<\/b>, “Looking ahead, our focus remains on empowering participants across the entire supply chain ecosystem by creating a direct-to-consumer network for auto service shops and car owners, offering seamless, convenient, and reliable one-stop lifecycle services. We are actively exploring opportunities to expand our multi-business ecosystem, pursuing strategic acquisitions in key verticals to strengthen our leadership in the industry. Meanwhile, we remain focused on maintaining stable profitability through disciplined cost management and operational efficiencies. We are also committed to continuing the optimization of our capital structure, ensuring a stronger financial position to support our long-term strategic objectives and create sustainable value for our shareholders.”<\/p>\n

Fiscal Year 2024 Financial Results<\/b><\/p>\n

Revenues<\/b>\u00a0increased by 9.9% to $124.7 million<\/span> in fiscal year 2024 from $113.5 million<\/span> in the prior year. The Company’s revenues were recognized in RMB and reported in U.S. dollar, and the depreciation of the RMB against the U.S. dollar during the fiscal year negatively impacted the reported year-over-year growth rate. On a constant currency basis in RMB terms, the Company’s revenues grew by approximately 12.2% year over year. This growth was driven by\u00a0the Company’s strategic shift towards focusing on its auto parts and auto accessories sales\u00a0segment, which more than offset declines in other business lines. With a continued emphasis on this high-margin, growth-oriented segments, Autozi remains well-positioned for future expansion and sustained improvement in its margin profiles.<\/p>\n