ShenZhen Woer Heat-Shrinkable Material (002130) Q4 2024 earnings summary

Executive summary

• Achieved record revenue and net profit growth in 2024, driven by strong performance in electronic materials, communication cables, and new energy automotive products.

• Maintained robust operational resilience and efficiency through digitalization, cost control, and production optimization.

• Expanded production capacity domestically and internationally, including new bases in Vietnam and planned investment in Malaysia.

• Continued to strengthen R&D, launching high-end products and securing over 2,000 valid patents.

Financial highlights

• Revenue reached ¥6.93 billion, up 21.03% year-over-year; net profit attributable to shareholders was ¥847.6 million, up 21.00%.

• Operating cash flow was ¥897.5 million, up 8.39% year-over-year.

• Basic and diluted EPS were ¥0.68, up 21.43% year-over-year.

• Gross margin was 31.73%, down 0.90 percentage points from last year.

• Total assets at year-end were ¥10.27 billion, up 14.04% from prior year.

Outlook and guidance

• Will focus on high-end product R&D, digital transformation, and international market expansion in 2025.

• Plans to further strengthen business synergy, cost leadership, and differentiated strategies.

• Expects continued growth in electronic materials, communication cables, and new energy sectors.