CALB Group Co (3931) H2 2024 earnings summary

Executive summary

• Profit increased 93.0% year-over-year to RMB843.63 million, with revenue up 2.8% to RMB27,751.53 million.

• Basic earnings per share rose 100.8% to RMB0.3336.

• Gross profit margin improved by 2.9 percentage points to 15.9%, and net sales margin rose to 3.0%.

• ESS product revenue surged 72.4%, offsetting a 12.1% decline in EV battery revenue.

• The group maintained strong growth in energy storage and international markets, with significant technological and product innovation.

Financial highlights

• Revenue: RMB27,751.53 million, up 2.8% year-over-year.

• Profit: RMB843.63 million, up 93.0% year-over-year.

• Gross profit margin: 15.9% (up from 13.0%).

• Net sales margin: 3.0% (up from 1.6%).

• ESS products revenue: RMB8,200.63 million, up 72.4%.

• EV battery revenue: RMB19,550.89 million, down 12.1%.

• Total assets: RMB122,473.38 million, up 16.2%.

• Total borrowings: RMB46,116.38 million, up from RMB29,170.73 million.

Outlook and guidance

• Focus on technological innovation in advanced materials, battery technology, and manufacturing.

• Plans to expand global production capacity, especially in Europe and Southeast Asia.

• Continued growth expected in ESS and international markets, with strategic partnerships and new business models.

• Emphasis on high safety, reliability, and cost-effective products for all scenarios.