S&A expenses were RMB 1.8 billion or USD 252.1 million representing 9.5% of revenue in FY2024 compared with RMB 1.5 billion representing 8.3% of revenue in FY2023. This increase was mainly due to higher trade receivables provision and higher travelling personnel and selling expenses compared with FY2023.

Feb 25, 2025 / CFO / receipt, needs a key / Chun-Sin Liu, CFO | earnings call 2025-02-25 | transcript 416d0aa5-6d9b-4364-adeb-f5e39b73ff96 | chars 15646-15951 | segment 16

The increase was mainly due to increased personnel, salaries and delivery expenses and high warranty and travel expenses compared with the same period last year.

Feb 27, 2024 / CFO / receipt, needs a key / Chun-Sin Liu, CFO | earnings call 2024-02-27 | transcript 8b6514a3-2036-41cc-983a-109e4a49d926 | chars 11770-11931 | segment 12