Suzhou Dongshan Precision Manufacturing Co (002384) Q4 2024 earnings summary

Executive summary

• Achieved operating revenue of RMB 36.77 billion in 2024, up 9.27% year-over-year, driven by stable growth in electronic circuits and strong expansion in new energy business.

• Net profit attributable to shareholders was RMB 1.09 billion, down 44.74% year-over-year, mainly due to asset disposal losses and impairment in the LED business.

• New energy business revenue reached RMB 8.65 billion, up 36.98% year-over-year, accounting for 23.52% of total revenue.

• Maintained a healthy financial position, implemented prudent financial strategies, and continued significant R&D investment.

Financial highlights

• Operating revenue: RMB 36.77 billion (up 9.27% YoY); net profit: RMB 1.09 billion (down 44.74% YoY).

• Gross margin for electronic circuits: 18.34%; LED display devices: -40.94%; touch panels and LCMs: 3.32%; precision components: 14.30%.

• Net cash flow from operating activities: RMB 4.99 billion (down 3.60% YoY).

• Total assets: RMB 46.01 billion; net assets attributable to shareholders: RMB 18.83 billion.

• Basic and diluted EPS: RMB 0.64.

• Cash dividend of RMB 0.70 per 10 shares proposed.

Outlook and guidance

• Focus on high-quality development, with strategic emphasis on consumer electronics and new energy vehicles.

• 2026 business plan includes strengthening R&D, embracing AI, optimizing capital structure, and enhancing ESG and sustainable development.