Shoucheng (697) H2 2024 earnings summary

Executive summary

• Revenue rose 37.5% year-over-year to HK$1,215 million, with profit attributable to owners up 1.5% to HK$410 million.

• Asset operation and FIME (fundraising, investment, management, exit) segments both saw strong growth, with asset operation revenue up 40% and FIME up 30.7%.

• The group expanded its intelligent infrastructure asset management, especially in parking mobility and industrial parks, and deepened its presence in the robot industry.

• Maintained a healthy asset structure, low debt-equity ratio, and received AAA ratings from leading Chinese agencies.

Financial highlights

• Revenue: HK$1,215 million, up 37.5% year-over-year.

• Profit attributable to owners: HK$410 million, up from HK$404 million.

• Adjusted EBITDA: HK$854 million, up 27.3%.

• Gross profit margin: 41.7%, up from 40.7%.

• Basic and diluted EPS: HK5.76 cents, up from HK5.57 cents.

• Final dividend recommended: HK$120 million; interim dividend declared: HK$208 million; total dividends: HK$328 million.

Outlook and guidance

• Plans to intensify investment in core regions and industries, especially robotics and infrastructure assets.

• Aims to enhance digital and intelligent management, and promote synergy between infrastructure and robotics businesses.

• Focus on long-term stable returns and full-cycle asset management.