Loongson Technology released its third quarter financial report for 2024, with a slight increase in revenue but still losses

Chinese processor manufacturer Loongson Technology released its financial report for the third quarter of 2024 on October 29. The report showed that the company's total revenue in the first three quarters was RMB 308 million, a year-on-year decrease of 21.94%. The net loss reached RMB 343 million, an increase of RMB 136 million from the same period last year. However, in the third quarter, the company's revenue rebounded to RMB 88.19 million, a year-on-year increase of 2.05%. The net loss was RMB 105 million, the same as the same period last year, and a decrease of nearly RMB 60 million from the previous month.