Beijing Beetech (300667) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was ¥768 million, down 14.07% year-over-year; net loss attributable to shareholders was ¥142 million, a sharp decline from last year's profit.

• Cash flow from operating activities remained positive at ¥74.8 million, but decreased 22.28% year-over-year.

• The loss was mainly due to lower revenue, credit and asset impairment losses, amortization from restructuring, and a goodwill impairment of ¥88.6 million.

• No major adverse changes in core business or competitive position during the period.

Financial highlights

• Gross margin for 2024 was 32.85%, down 0.9 percentage points from the prior year.

• R&D investment reached ¥86.6 million, up 0.95% year-over-year, representing 11.28% of revenue.

• Total assets at year-end were ¥1.47 billion, down 8.48% from the previous year.

• Net assets attributable to shareholders were ¥1.14 billion, down 10.93% year-over-year.

• Basic and diluted EPS were both -0.70, compared to 0.17 last year.

Outlook and guidance

• The company will focus on core sensing and photonics technologies, aiming to strengthen R&D, optimize product structure, and expand market share in key segments.

• No cash dividend, bonus shares, or capital increase from reserves is planned for 2024 due to negative retained earnings at the parent level.

• Strategic priorities include innovation, digital transformation, and international expansion.