Changjiu Holdings (6959) H2 2024 earnings summary

Executive summary

• FY2024 revenue rose 5.6% YoY to RMB677.6 million; profit increased 57.8% to RMB161.4 million, while adjusted net profit rose 0.8% to RMB155.6 million.

• Listed on the Hong Kong Stock Exchange on January 9, 2024; net proceeds after listing expenses were HK$254.1 million.

Financial highlights

• Gross profit increased 5.4% YoY to RMB298.0 million; gross margin held at 44.0%.

• Operating profit was RMB182.9 million versus RMB120.2 million; net finance income was RMB10.1 million versus a RMB2.3 million expense.

• Basic EPS rose 18.7% to RMB0.8028; diluted EPS increased 17.7% to RMB0.7943.

• Adjusted net profit, excluding listing and share-based compensation expenses and deducting the one-off payable-termination income, was RMB155.6 million, up 0.8% YoY.

Outlook and guidance

• 2025 priorities are stabilizing the pledged vehicle monitoring business, strengthening platforms, and expanding digital intelligence and AI applications.

• Planned VFS upgrades include hardware and software improvements, stronger risk assessment, and deeper engagement with major customers.

• 9CheGO aims to connect county markets and end users through online trading and offline franchise channels; plans include AI-enabled transaction and data tools.