ShenZhen YUTO Packaging Technology (002831) H2 2024 earnings summary

Executive summary

• Revenue reached ¥17.16 billion in 2024, up 12.71% year-over-year; net profit attributable to shareholders was ¥1.41 billion, down 2.05% year-over-year, mainly due to strategic equity disposals and employee share plan expenses.

• Overseas expansion advanced with new factories in Mexico and the Philippines, enhancing global supply and customer service.

• Environmental packaging and ESG initiatives saw significant progress, with new product launches and international recognition.

• Dividend payout of ¥6 per 10 shares (pre-tax) based on 910,763,300 shares, with a total cash dividend of ¥546.46 million.

Financial highlights

• Operating income: ¥17.16 billion, up 12.71% year-over-year.

• Net profit attributable to shareholders: ¥1.41 billion, down 2.05% year-over-year.

• Operating cash flow: ¥1.98 billion, down 46.10% year-over-year.

• Basic and diluted EPS: ¥1.54, down 1.91% year-over-year.

• Gross margin for main business: 24.80%.

• R&D expenses: ¥743.95 million, up 6.91% year-over-year.

Outlook and guidance

• 2025 focus on internationalization, resource integration, and expansion in environmental packaging and AI-driven smart factories.

• Continued investment in ESG, global supply chain, and digital transformation to drive sustainable growth.

• Targeting new business growth in pet economy and non-packaging plant fiber products.