Jiangsu Hengli Hydraulic (601100) H2 2024 earnings summary

Executive summary

• Achieved record revenue of ¥9.39 billion in 2024, up 4.51% year-over-year; net profit attributable to shareholders reached ¥2.51 billion, up 0.40% year-over-year.

• Total assets grew 9.74% to ¥19.64 billion; net assets attributable to shareholders increased 9.61% to ¥15.77 billion.

• Maintained stable growth despite industry cyclicality and significant capital expenditures for overseas capacity and electrification.

• Overseas sales rose 7.61% year-over-year, with internationalization strategy showing results.

• Major technological breakthroughs and product launches, including record-setting piling ship cylinder and new high-pressure pumps.

Financial highlights

• Revenue: ¥9.39 billion (+4.51% YoY); net profit attributable to shareholders: ¥2.51 billion (+0.40% YoY).

• Gross margin for mechanical equipment manufacturing: 42.47%; pump/valve/motor segment margin: 47.94%.

• Basic and diluted EPS: ¥1.87; weighted average ROE: 16.81%.

• Operating cash flow: ¥2.48 billion (-7.40% YoY); R&D expenses: ¥727.7 million, 7.75% of revenue.

• Dividend payout: ¥938.6 million, 37.41% of net profit.

Outlook and guidance

• 2025 plan focuses on sustained R&D investment, deepening diversification, and accelerating international expansion.

• Emphasis on electrification, automation, and new growth engines such as linear actuators.

• Industry expected to continue stable growth, with domestic market recovery and global demand expansion.