Heilongjiang Agriculture Company (600598) H2 2024 earnings summary

Executive summary

• Achieved revenue of ¥5.34 billion, up 5.83% year-over-year, driven by increased land contract fees and higher sales of flax products.

• Net profit attributable to shareholders reached ¥1.09 billion, up 2.21% year-over-year, with EPS of ¥0.612.

• Asset-liability ratio decreased to 15.39%, and total assets grew 3.17% to ¥8.98 billion.

• Cash dividend payout ratio was 89.93%, with a proposed cash dividend of ¥5.5 per 10 shares.

Financial highlights

• Operating income: ¥5.34 billion, up 5.83% year-over-year.

• Net profit attributable to shareholders: ¥1.09 billion, up 2.21% year-over-year.

• Operating cash flow: ¥1.49 billion, down 1.38% year-over-year.

• Gross margin for main business: 45.26%, down 3.60 percentage points year-over-year.

• R&D investment: ¥94.89 million, 1.78% of revenue.

Outlook and guidance

• 2025 revenue target set at ¥5.3 billion, with profit target of ¥1.095 billion and grain/bean output of 11.88 billion jin.

• Focus on quality, efficiency, and innovation to drive sustainable growth.