Shenzhen Longsys Electronics (301308) Q4 2024 earnings summary

Executive summary

• Achieved revenue of ¥17.46 billion in 2024, up 72.48% year-over-year, with net profit of ¥498.68 million, reversing last year's loss.

• All major business lines—embedded storage, SSDs, mobile storage, and memory modules—saw significant growth.

• Overseas business accounted for 71.15% of revenue, with strong performance in Brazil and global expansion of Lexar brand.

• R&D investment reached ¥910 million, up 53.34% year-over-year, with continued focus on self-developed chips and high-end products.

Financial highlights

• Revenue: ¥17.46 billion, up 72.48% year-over-year.

• Net profit attributable to shareholders: ¥498.68 million, compared to a loss of ¥827.81 million last year.

• Gross margin: 19.05%, up 10.86 percentage points year-over-year.

• Operating cash flow: -¥1.19 billion, improved 57.48% from last year.

• Basic and diluted EPS: ¥1.20, up from -¥2.01 last year.

• Total assets: ¥16.90 billion, up 23.52% year-over-year.

Outlook and guidance

• Will continue to invest in R&D, focusing on high-end storage, self-developed chips, and global manufacturing expansion.

• Plans to enhance product innovation, expand enterprise and automotive storage, and strengthen global brand presence.

• Exploring selective M&A opportunities to complement existing strengths in chip design and manufacturing.