Shenzhou International Group (2313) H2 2024 earnings summary

Executive summary

• Sales revenue for 2024 reached RMB28.66 billion, up 14.8% year-over-year, with record highs in both revenue and net profit after tax.

• Net profit after tax was RMB6.24 billion, a 36.9% increase compared to 2023, driven by improved capacity utilisation and production efficiency.

• Gross profit margin rose to 28.1%, up 3.8 percentage points year-over-year, reflecting operational improvements.

• Workforce expanded to 102,690 employees, supporting higher production and efficiency.

Financial highlights

• Gross profit for 2024 was RMB8.05 billion, up 32.9% from 2023.

• Earnings per share increased to RMB4.15 from RMB3.03 year-over-year.

• Final dividend proposed at HKD1.28 per share, total annual dividend HKD2.53, up 24.6% from 2023.

• Net cash from operating activities was RMB5.27 billion; cash and cash equivalents at year-end were RMB10.87 billion.

• Debt-to-equity ratio improved to 35.8% from 36.8% in 2023.

Outlook and guidance

• Anticipates maintaining high capacity utilisation and further production expansion, especially overseas.

• Plans to intensify R&D in advanced materials, automation, and AI-driven manufacturing.

• Expects to sustain growth momentum despite macroeconomic and geopolitical challenges.

• Focus on technology-driven innovation, green production, and digital transformation for long-term growth.