AuGroup SHENZHEN Cross-Border Business (2519) H2 2024 earnings summary

Executive summary

• FY24 revenue rose 23.3% YoY to RMB10.71bn; net profit was nearly flat at RMB521.2m, while gross margin declined to 30.8%.

• Logistics solutions expanded rapidly, and the November 2024 Hong Kong listing raised net proceeds of HK$387.5m for business and technology investment.

Financial highlights

• Revenue increased to RMB10,709.6m from RMB8,683.0m; gross profit rose 10.1% to RMB3,297.1m.

• Profit before tax was RMB630.6m versus RMB639.9m; net profit was RMB521.2m versus RMB520.1m, including RMB42.4m of listing expenses in 2024.

• Profit attributable to owners fell to RMB504.3m from RMB532.0m; basic and diluted EPS was RMB1.29 versus RMB1.37.

Outlook and guidance

• Strategy centers on expanding quality, competitively priced products with distinctive designs, broader logistics capabilities, and sustainability-focused offerings; no numerical FY25 guidance was stated.

• Global B2C e-commerce demand is expected to benefit from online shopping adoption and supply-chain automation, which can reduce product and logistics costs.