Tianju Dihe (Suzhou) Data (2479) H1 2024 earnings summary

Executive summary

• H1 revenue rose 48.0% YoY to RMB258.7m; reported net profit increased 6.3% to RMB8.4m, while net profit excluding listing expenses grew 42.0% to RMB20.3m.

• Growth reflected higher API marketplace and data management solutions revenue; gross margin improved to 21.8%.

Financial highlights

• Revenue increased from RMB174.8m to RMB258.7m; gross profit rose 61.6% to RMB56.4m.

• Reported net profit was RMB8.4m versus RMB7.9m; excluding listing expenses of RMB11.9m, net profit was RMB20.3m versus RMB14.3m.

• Profit attributable to owners was RMB8.6m versus RMB7.4m; basic and diluted EPS was RMB0.19 versus RMB0.16.

• Total comprehensive loss was RMB13.7m versus income of RMB6.0m, mainly reflecting a RMB21.4m net-of-tax fair-value loss on FVOCI assets.

Outlook and guidance

• Priorities include government and public data authorization opportunities, broader API scenarios, data exchange partnerships, API testing services, automated supplier matching and subscription monetization.

• Plans include expanding industry and regional coverage, strengthening data-management applications, and investing in R&D, technical talent and product development.

• Demand fluctuations could affect results; planned responses include stronger sales and marketing and product upgrades.