Bethel Automotive Safety Systems (603596) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached RMB 3.97 billion, up 28.32% year-over-year, with net profit attributable to shareholders at RMB 457.45 million, up 28.65% year-over-year.

• Main business covers automotive brake, intelligent driving, and steering systems, with strong R&D and global manufacturing presence.

• Major customers include leading domestic and international automakers; new project wins and capacity expansions support growth.

Financial highlights

• Operating income: RMB 3.97 billion, up 28.32% year-over-year; net profit: RMB 461 million, up 24.2% year-over-year.

• Gross margin stable; basic and diluted EPS at RMB 0.75, up 19.05% year-over-year.

• Net cash from operating activities: RMB 392 million, up 148.04% year-over-year.

• Total assets: RMB 10.73 billion; net assets attributable to shareholders: RMB 5.93 billion.

• Adjusted net profit (excluding non-recurring items): RMB 421.72 million, up 29.4% year-over-year.

Outlook and guidance

• Company continues to invest in R&D for next-generation brake and intelligent driving systems, aiming to expand market share in new energy and intelligent vehicles.

• Ongoing capacity expansion in lightweight components and overseas manufacturing to meet rising demand.