EDA Group Holdings (2505) H2 2024 earnings summary

Executive summary

• FY2024 revenue rose 39.8% YoY to RMB1,690.1m and gross profit increased 27.3% to RMB251.0m; net profit fell 32.2% to RMB47.1m. Adjusted net profit grew 23.9% to RMB113.9m.

• Growth was led by last-mile fulfillment, while margin pressure, higher expenses and share-based payments weighed on reported profitability.

Financial highlights

• Revenue was RMB1,690.1m, up 39.8% YoY; gross profit was RMB251.0m, up 27.3%; profit before tax declined to RMB66.0m from RMB80.4m.

• Net profit was RMB47.1m, down 32.2% YoY; adjusted net profit, excluding listing and share-based payment expenses, was RMB113.9m, up 23.9%.

• Basic and diluted EPS were RMB0.12 and RMB0.11, respectively, versus RMB0.20 basic EPS in 2023.

• Final dividend of HK3.5 cents per share declared; interim dividend was also HK3.5 cents per share.

Outlook and guidance

• 2025 is positioned as a foundational year, with a five-year high-growth goal and action plan through 2030; plans include network expansion, SaaS commercialization and AI-enabled efficiency gains.

• Strategy includes expanding overseas warehouses, improving EDA Cloud, deepening work with brand and integrated manufacturing-trade customers, and pursuing strategic partnerships and acquisitions.

• Management expects cross-border e-commerce and overseas warehousing to keep growing, supported by semi-hosting adoption, domestic policy support and AI; near-term tariff changes may disrupt fulfillment.