HUHUTECH International Group Inc. (NASDAQ: HUHU) shares were flat Tuesday, as the Wuxi, China-based company, a professional provider of factory facility management and monitoring systems, today announced its financial results for the fiscal year ended December 31, 2024.
CEO Yujun Xiao commented, "Fiscal year 2024 was a year of expansion as we strengthened our market presence both domestically and internationally, laying a solid foundation for long-term success. We delivered $18.1 million in total revenue, representing an 8.5% increase year-over-year, driven by robust growth in product sales and system integration projects, especially in Japan.
“Gross profit rose 21.1% to $6.6 million, with gross margin improving to 36.1% from 32.3% in the same period last year.
“Our strategic expansion in the Japanese market was underscored by the successful launch of our semiconductor industry-supporting warehousing and logistics center in Kumamoto. In line with Japan's Semiconductor Revival Initiative, the facility supports the region's growing semiconductor manufacturing clusters and reflects our commitment to building scalable infrastructure in high-growth markets. Another major milestone in 2024 was our successful initial public offering. With our NASDAQ listing, we are better positioned to accelerate innovation, enhance brand visibility, and pursue global opportunities. This achievement also underscores our commitment to long-term value creation through global market expansion."
HUHU shares began trading in New York inched back three cents Tuesday to $4.97.
