Rongsheng Petrochemical (002493) Q4 2024 earnings summary

Executive summary

• Achieved annual revenue of ¥326.48 billion, up 0.42% year-over-year, with total assets reaching ¥377.85 billion at year-end.

• Net profit attributable to shareholders was ¥724 million, down 37.44% year-over-year, with basic EPS of ¥0.08.

• Maintained global leadership in PX, PTA, and high-end chemical materials, with continued expansion in new energy and high-value materials.

• Deepened international cooperation, notably with Saudi Aramco, including joint ventures and cross-shareholding.

• Enhanced ESG performance, with MSCI ESG rating upgraded to BBB and recognized for best ESG management.

Financial highlights

• Revenue: ¥326.48 billion, up 0.42% year-over-year; net profit: ¥724 million, down 37.44%.

• Operating cash flow: ¥34.61 billion, up 23.26% year-over-year.

• Gross margin for petrochemicals: 12.65%; polyester: 1.68%.

• R&D investment: ¥5.10 billion, 1.56% of revenue.

• Cash dividend: ¥957 million, with a payout ratio of 34.36%.

Outlook and guidance

• Focus on cost reduction, efficiency improvement, and high-quality growth.

• Accelerate new material projects and international expansion, especially in high-end and differentiated products.

• Continue to strengthen ESG, digitalization, and green transformation.