{"id":33550,"date":"2025-01-30T23:30:00","date_gmt":"2025-01-30T23:30:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4608763_CN08763_0"},"modified":"2025-01-30T23:30:00","modified_gmt":"2025-01-30T23:30:00","slug":"youxin-technology-ltd-reports-financial-results-for-fiscal-year-2024","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=33550","title":{"rendered":"Youxin Technology Ltd Reports Financial Results for Fiscal Year 2024"},"content":{"rendered":"

GUANGZHOU, China<\/span>, Jan. 31, 2025 \/PRNewswire\/ — Youxin Technology Ltd (Nasdaq: YAAS) (the “Company” or “Youxin Technology”), a software as a service (“SaaS”) and platform as a service (“PaaS”) provider committed to helping retail enterprises digitally transform their businesses, today announced its financial results for the fiscal year ended September 30, 2024<\/span>.<\/span><\/p>\n

Mr. Shaozhang Lin, Chief Executive Officer of Youxin Technology Ltd, commented, “The past year underscores our diligent strategic adjustments and significant efforts to enhance operational efficiency amid macroeconomic headwinds and challenges in China<\/span>. We successfully improved our gross margins by 5% to 66% overall in fiscal year 2024 from 61% in fiscal year 2023, despite a decline in revenue due to our strategic shift from developing the customized CRM systems toward developing and marketing our third-generation PaaS platform. As PaaS products generally feature more functionalities in contrast to the more hands-on personnel efforts required for customized CRM development services, we managed to reduce operating expenses and increase efficiency. This improvement reflects better cost control, reduced focus on less profitable service lines, and a pivot toward an upgraded portfolio of solutions. Overall, we reduced our net loss by 45.3%, from $2.34 million<\/span> in fiscal year 2023 to $1.28 million<\/span> in fiscal year 2024, while maintaining adequate cash reserves to support product development and strategic execution. We remain optimistic about the growth potential and profitability outlook of our third-generation PaaS platform, which is poised for significant enhancements through AI integration in 2025.”<\/p>\n

Mr. Lin continued, “Looking ahead, we are confident that our strategic shift, supported by substantial investment, positions us for a turnaround and long-term growth. Our prudent planning, disciplined management, and strict cost controls will further enhance our operational efficiency and financial stability, ultimately delivering long-term value for the Company and our shareholders.”<\/p>\n

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