Anchun International Holdings (BTX) H2 2024 earnings summary

Executive summary

• FY2024 revenue rose 32.7% to RMB177.4m and profit attributable to owners increased to RMB10.9m from RMB2.4m, led by CSC project growth.

• Strategy emphasized diversification beyond fertilisers, international expansion and green technologies; non-fertiliser revenue was 49% of FY2024 sales.

• FY2024 closed with an order book of ~RMB130.0m, including RMB56.8m from non-fertiliser industries.

Financial highlights

• Revenue was RMB177.372m versus RMB133.622m in FY2023; gross profit rose to RMB41.209m from RMB30.732m.

• Profit before tax increased to RMB11.479m from RMB2.195m; profit for the year was RMB10.938m versus RMB2.387m.

• Finance and other income rose to RMB10.085m from RMB8.469m, including RMB1.934m from write-backs of customer advances.

• Operating cash flow was RMB21.535m versus RMB14.618m; cash and cash equivalents ended FY2024 at RMB76.937m.

Outlook and guidance

• FY2025 priorities include growing customer relationships, advancing isothermal conversion and green ammonia/alcohol technologies, and expanding international project development.

• Management remained cautiously optimistic, targeting high-value chemical segments, a broader customer base and stronger global presence.

• The order book was expected to support revenue recognition of RMB91.009m in FY2025 and RMB38.978m in FY2026.

• Solar-panel installation across the manufacturing plant was expected to be completed by June 2025.