Anhui Conch Material Technology (2560) H2 2024 earnings summary

Executive summary

• FY2024 revenue was RMB2,384.15m, broadly stable YoY; profit attributable to equity shareholders rose 7.43% to RMB125.64m.

• Concrete admixture growth and overseas expansion offset weaker cement admixture revenue amid reduced domestic industry demand.

Financial highlights

• Revenue RMB2,384.15m vs RMB2,395.47m; gross profit RMB459.68m vs RMB459.12m.

• Operating profit rose to RMB206.66m from RMB200.31m; profit before tax rose 5.97% to RMB180.18m.

• Net profit was RMB147.88m vs RMB143.93m; attributable profit was RMB125.64m vs RMB116.95m.

• Basic and diluted EPS was RMB0.29 vs RMB0.27; proposed final dividend RMB0.17/share, tax inclusive.

Outlook and guidance

• 2025 prospects cite expected project acceleration after local-government financing vehicle debt resolution and growth opportunities in Xinjiang.

• Priorities include overseas expansion, optimizing product costs, customized admixtures and further development of admixture technologies.