Beijing New Building Materials (000786) H2 2024 earnings summary

Executive summary

• Achieved revenue of ¥25.82 billion in 2024, up 15.14% year-over-year; net profit attributable to shareholders rose 3.49% to ¥3.65 billion.

• Main business lines: gypsum board, waterproofing, and coatings; continued domestic leadership in gypsum board market share.

• Completed major acquisition of JiaBaoLi, expanding coatings business nationwide; furthered international expansion in Southeast Asia, Central Asia, and Europe.

Financial highlights

• Revenue: ¥25.82 billion, up 15.14% year-over-year; net profit attributable to shareholders: ¥3.65 billion, up 3.49%.

• Operating profit: ¥3.97 billion, up 2.43%; EBITDA/total debt ratio: 204.59%; gross margin for gypsum board: 38.51%.

• Basic EPS: ¥2.159, up 3.50%; cash flow from operations: ¥5.13 billion, up 8.45%.

• Total assets: ¥35.14 billion, up 14.61%; net assets: ¥25.67 billion, up 9.88%.

Outlook and guidance

• 2025 focus: strengthen core gypsum board and expand waterproofing/coatings, drive digital transformation, and accelerate global layout.

• Plans to enhance operational efficiency, cost control, and innovation; continue international expansion and deepen domestic market penetration.