Greatview Aseptic Packaging (468) H2 2024 earnings summary

Executive summary

• Revenue declined 17.1% year-over-year to RMB1,857.0 million, with net profit plunging 80.5% to RMB52.9 million due to lower sales, margin compression, and a change in accounting for international business.

• The year was marked by a major governance overhaul, new management, and deep integration with the controlling shareholder, Shandong NewJF.

• The company faced intensified competition, especially in the PRC, and completed a significant equity change and governance restructuring.

• Trading in shares remains suspended since February 2025 due to insufficient public float after a takeover, with resumption dependent on regulatory compliance.

Financial highlights

• Revenue fell to RMB1,857.0 million from RMB2,239.9 million, gross profit dropped to RMB287.4 million from RMB422.6 million, and net profit to RMB52.9 million from RMB271.3 million year-over-year.

• Gross margin decreased to 15.5% from 18.9%, and net profit margin to 2.8% from 12.1%.

• Cash and cash equivalents declined to RMB461.7 million from RMB748.3 million.

• No bank borrowings at year-end, but advances from banks on discounted bills receivables rose to RMB100.8 million.

• Final dividend proposed at HK$0.006 per share, sharply down from HK$0.22 per share last year.

Outlook and guidance

• Plans to deepen digital transformation, strengthen supply chain resilience, and focus on green and sustainable development.

• Strategic focus on expanding PRC and international markets, technological innovation, and operational excellence.

• Emphasis on digital intelligence, big data, IoT, and AI to build core competitiveness.