HUAYU Automotive Systems Company (600741) Q4 2024 earnings summary

Executive summary

• Revenue reached ¥168.85 billion in 2024, up 0.15% year-over-year; net profit attributable to shareholders was ¥6.69 billion, down 7.26% year-over-year.

• Operating cash flow was ¥8.14 billion, a 28.07% decrease from the previous year.

• The company maintained stable operations amid intense market competition and shifting customer demand, focusing on product upgrades, cost reduction, and efficiency improvements.

• Proposed cash dividend of ¥8.00 per 10 shares, totaling ¥2.52 billion.

Financial highlights

• Gross margin for main business was 11.67%, a decrease of 0.78 percentage points year-over-year.

• Main business revenue was ¥158.64 billion, down 0.55% year-over-year; main business cost was ¥140.13 billion, up 0.34%.

• Basic EPS was ¥2.122, down from ¥2.288 last year.

• Weighted average ROE was 11.17%, down 1.86 percentage points year-over-year.

• R&D investment was ¥6.19 billion, accounting for 3.67% of revenue.

Outlook and guidance

• 2025 revenue target is ¥170 billion, with cost control to keep operating costs below ¥148 billion.

• Focus on digital transformation, intelligent upgrades, and expanding new energy and independent brand business.

• Plans to enhance cost competitiveness, risk management, and digital factory construction.