Zhejiang Century Huatong Group (002602) H1 2024 earnings summary

Executive summary

• Achieved revenue of ¥9.28 billion in H1 2024, up 53.33% year-over-year, driven by strong growth in gaming and overseas markets.

• Net profit attributable to shareholders reached ¥1.16 billion, up 33.41% year-over-year.

• Operating cash flow increased 12.78% year-over-year to ¥1.89 billion.

• Internet gaming, AI cloud data, and auto parts manufacturing are the three main business segments.

Financial highlights

• Revenue: ¥9.28 billion, up 53.33% year-over-year.

• Net profit attributable to shareholders: ¥1.16 billion, up 33.41% year-over-year.

• Net profit after non-recurring items: ¥1.15 billion, up 56.33% year-over-year.

• Basic and diluted EPS: ¥0.16, up 33.33% year-over-year.

• Total assets: ¥38.58 billion, up 3.30% from year-end 2023.

• Net assets attributable to shareholders: ¥25.81 billion, up 3.67% from year-end 2023.

Outlook and guidance

• Management expects continued high-quality growth, focusing on digital innovation and operational efficiency.

• AI cloud data business is in the investment phase, with profitability expected to improve as projects mature.

• Auto parts segment to further expand in the new energy vehicle market.