China Electronics Optics Valley Union Holding Company (798) H2 2024 earnings summary

Executive summary

• Revenue for 2024 was RMB3,588.5 million, down 31.3% year-over-year, with net profit at RMB106.3 million, a decrease of 79.8% from 2023.

• Industrial park operation services contributed 62% of total revenue, while development services accounted for 38%.

• Cash flow from operating activities remained positive for the sixth consecutive year, with a net inflow of RMB29.4 million.

• No final dividend was recommended for 2024.

Financial highlights

• Gross profit was RMB1,097.1 million, down 29.6% year-over-year; gross margin improved to 30.6%.

• Operating profit fell to RMB529.0 million from RMB1,253.7 million in 2023.

• Basic earnings per share dropped to RMB1.30 cents from RMB6.70 cents in 2023.

• Net cash outflow from financing activities was RMB316.1 million.

Outlook and guidance

• Focus for 2025 is on revitalizing stock assets, reducing inventory, and improving occupancy rates.

• Plans to deepen government-enterprise cooperation and enhance equity fund management to support sustainable growth.

• Emphasis on quality development, incremental innovation, and integrated operation business expansion.