Edianyun Limited (2416) H2 2024 earnings summary

Executive summary

• Revenue rose 6.8% to RMB1,356.9 million; reported net profit was RMB64.7 million versus a RMB900.6 million loss in 2023, when a large fair-value loss on financial liabilities weighed on results.

• Active customers grew 9.1% to 51,024, while net dollar retention improved to 93.1% from 86.1%.

Financial highlights

• Revenue increased 6.8% to RMB1,356.9 million; gross profit rose 0.8% to RMB556.6 million.

• Reported net profit was RMB64.7 million, versus a RMB900.6 million loss; basic and diluted EPS were RMB0.11, versus a loss per share of RMB2.27 in 2023.

• Adjusted net profit was RMB80.2 million, up 427.0% from RMB15.2 million; adjusted EBITDA was RMB691.7 million versus RMB566.3 million.

• Cost of sales rose 11.4% to RMB800.3 million, outpacing revenue growth; gross margin was 41.0%, versus 43.5%.

Outlook and guidance

• 2025 priorities include expanding and improving the sales team, applying AI-based business analysis to sales processes, and developing AI-related products and services.

• The self-developed DeepSeek all-in-one machine launched in H1 2025, combining domestic hardware, computing power and open-source models for enterprise AI deployment.

• Planned remanufacturing investment and automation, including a keyboard inspection robot, aim to improve inspection efficiency, yields and unit costs.