GoodWe Technologies (688390) H2 2024 earnings summary

Executive summary

• Achieved total revenue of RMB 6.74 billion in 2024, down 8.36% year-over-year.

• Net profit attributable to shareholders was -RMB 63.15 million, a decrease of 107.41% year-over-year.

• Significant decline in profitability due to lower overseas sales of high-margin inverters and batteries, increased R&D investment, and higher financial expenses.

Financial highlights

• Operating profit was -RMB 67.55 million, down 106.71% year-over-year.

• Total profit was -RMB 71.28 million, down 107.10% year-over-year.

• Basic EPS was -0.26 yuan, down 107.37% year-over-year.

• Weighted average ROE was -2.20%, down 34.73 percentage points year-over-year.

Outlook and guidance

• Continued focus on global market expansion, with emphasis on both domestic and international growth.

• Ongoing commitment to product innovation and R&D to enhance competitiveness.