Beijing Beetech (300667) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 was ¥353.68 million, down 12.98% year-over-year; net profit attributable to shareholders was ¥2.55 million, down 82.23% year-over-year.

• Operating cash flow improved to ¥6.12 million, a 348.58% increase year-over-year.

• Gross margin was 33.90%, up 0.99 percentage points year-over-year.

• R&D investment increased 14.46% year-over-year to ¥40.92 million.

• No interim dividend, bonus shares, or capital increase from reserves planned.

Financial highlights

• Revenue: ¥353.68 million (–12.98% YoY); net profit: ¥2.55 million (–82.23% YoY); EPS: ¥0.01 (–85.71% YoY).

• Net profit excluding non-recurring items: –¥1.48 million (–114.50% YoY).

• Operating cash flow: ¥6.12 million (vs. –¥2.46 million YoY).

• Total assets: ¥1.59 billion (–1.27% from year-end); net assets: ¥1.28 billion (+0.37%).

• Non-recurring gains: ¥4.02 million, mainly from government subsidies and asset disposals.

Outlook and guidance

• Management expects continued focus on R&D, product innovation, and market expansion, especially in domestic substitution and differentiated competition.

• Company will leverage digitalization, intelligent manufacturing, and policy support to drive growth.

• No interim dividend distribution planned.