Shanghai Zhangjiang Hi-Tech Park Development (600895) Q2 2024 earnings summary

Executive summary

• Revenue for the first half of 2024 reached ¥1.23 billion, up 126.54% year-over-year, mainly due to a significant increase in space carrier sales income.

• Net profit attributable to shareholders was ¥266 million, down 32.13% year-over-year, as last year included a one-time gain from equity transfer of an associate.

• Cash flow from operating activities was negative ¥1.95 billion, a 37.89% decrease from the prior year, mainly due to higher comprehensive development expenditures.

• The company will distribute an interim cash dividend of ¥0.52 per 10 shares, totaling ¥80.53 million, representing 30% of net profit for the period.

Financial highlights

• Operating income: ¥1.23 billion, up 126.54% year-over-year.

• Net profit attributable to shareholders: ¥266 million, down 32.13% year-over-year.

• Basic and diluted EPS: ¥0.17, down 32% year-over-year.

• Total assets: ¥53.68 billion, up 5.24% from year-end 2023.

• Net assets attributable to shareholders: ¥12.43 billion, down 0.11% from year-end 2023.

Outlook and guidance

• The company expects continued recovery in Shanghai's industrial park leasing demand as the macroeconomic cycle restarts.

• Ongoing focus on expanding investment in integrated circuits, biomedicine, and AI, with new funds and projects under development.