Shenzhen Kedali Industry (002850) Q4 2024 earnings summary

Executive summary

• Revenue reached ¥12.03 billion in 2024, up 14.44% year-over-year; net profit attributable to shareholders was ¥1.47 billion, up 22.55% year-over-year.

• Operating cash flow surged 187.35% to ¥2.15 billion, reflecting strong sales and collection.

• The company maintained its leading position in precision battery and automotive structural components, with significant expansion in R&D and production capacity.

• Strategic entry into humanoid robotics and international market expansion, including new bases in the US and Malaysia.

Financial highlights

• Gross margin for metal structural manufacturing was 24.31%, up 0.75 percentage points year-over-year.

• Net profit attributable to shareholders increased 22.55% year-over-year to ¥1.47 billion.

• Total assets grew 10.62% to ¥19.05 billion; shareholders’ equity rose 10.89% to ¥11.64 billion.

• Basic and diluted EPS were both ¥5.44, up 12.86% and 13.57% respectively.

• R&D investment reached ¥639 million, 5.32% of revenue.

Outlook and guidance

• Focus on strengthening core business in battery precision components and expanding into humanoid robotics.

• Plans to accelerate capacity construction and release, especially in overseas markets.

• Continued emphasis on large customer strategy and technological leadership.

• 2025 strategy includes further R&D investment, digital transformation, and global market expansion.