Citic Pacific Special Steel Group (000708) Q4 2024 earnings summary

Executive summary

• Revenue reached ¥109.2 billion, down 4.22% year-over-year; net profit attributable to shareholders was ¥5.13 billion, down 10.41%.

• Steel sales volume was 18.89 million tons, with exports of 2.2 million tons; high-end product sales and R&D investment increased.

• Maintained industry-leading profitability and strong anti-cyclical resilience despite market headwinds.

Financial highlights

• Operating income: ¥109.2 billion, down 4.22% year-over-year.

• Net profit attributable to shareholders: ¥5.13 billion, down 10.41% year-over-year.

• Gross margin: 12.85%, slightly down from last year.

• Basic EPS: ¥1.02, diluted EPS: ¥1.00.

• Operating cash flow: ¥10.74 billion, up 0.78% year-over-year.

• R&D investment: ¥4.6 billion, 4.21% of revenue.

Outlook and guidance

• 2025 sales target: 18.6 million tons, with export target of 2.65 million tons.

• Focus on high-end, green, and intelligent steel products; continued international expansion and digital transformation.

• Industry demand expected to remain under pressure, but long-term prospects for special steel remain positive.