China National Chemical Engineering (601117) H2 2024 earnings summary

Executive summary

• Achieved total operating revenue of ¥186.61 billion, up 4.14% year-over-year; net profit attributable to shareholders reached ¥5.69 billion, up 4.82% year-over-year.

• New contract value signed in 2024 was ¥366.94 billion, a 12.3% increase year-over-year, with both domestic and overseas contracts growing over 12%.

• Maintained a stable growth trajectory, driven by increased order volume, efficient project execution, and enhanced core competitiveness.

• Focused on technology innovation, risk management, and ESG, with significant progress in R&D and environmental responsibility.

Financial highlights

• Operating revenue: ¥185.84 billion, up 4.20% year-over-year.

• Net profit attributable to shareholders: ¥5.69 billion, up 4.82% year-over-year.

• Basic and diluted EPS: ¥0.93, up 4.49% year-over-year.

• Net cash flow from operating activities: ¥8.72 billion, down 4.51% year-over-year.

• Gross margin: 10.07%, up 0.61 percentage points year-over-year.

• Net assets attributable to shareholders: ¥62.28 billion, up 8.31% from previous year-end.

• Total assets: ¥233.42 billion, up 6.53% from previous year-end.

Outlook and guidance

• 2025 targets: new contract value of ¥370 billion, operating revenue of ¥195 billion, and total profit of ¥7.68 billion.

• Strategic focus on high-quality growth, technology innovation, and international expansion.

• Plans to further strengthen risk management and cash flow control.