Title: CloudWalk Technology faces operational challenges, forced to lay off employees and cut executive salaries

Yitu Technology's revenue in 2024 hit the lowest level in nearly seven years, at only 398 million yuan, a year-on-year decrease of 36.69%. The company has been making losses for the eighth consecutive year. Its net profit attributable to shareholders of the parent company in 2024 was approximately -696 million yuan, with losses expanding by 8.12% year-on-year. The accumulated losses have exceeded 4.579 billion yuan. In order to cope with operational difficulties, Yitu Technology carried out large-scale personnel adjustments. The overall number of employees dropped sharply from 801 in 2023 to 453 in 2024, with a reduction rate of 43.44%. Among them, the reduction in core R&D personnel was particularly significant, from 467 to 228, a reduction rate of 51.18%.