Zhejiang Juhua (600160) H2 2024 earnings summary

Executive summary

• Achieved revenue of ¥24.46 billion, up 18.43% year-over-year; net profit attributable to shareholders was ¥1.96 billion, up 107.69% year-over-year.

• Operating environment was complex, with significant industry changes and both challenges and opportunities.

• Completed acquisition of Feiyuan Chemical, expanding HFCs and fine chemicals capacity.

• Stock market value reached ¥65.12 billion at year-end, with a 47.25% annual increase.

Financial highlights

• Revenue: ¥24.46 billion, up 18.43% year-over-year.

• Net profit attributable to shareholders: ¥1.96 billion, up 107.69% year-over-year.

• Operating cash flow: ¥2.76 billion, up 25.88% year-over-year.

• Basic and diluted EPS: ¥0.73, up 108.57% year-over-year.

• Gross margin improved, with main profit drivers from refrigerant price increases and cost control.

Outlook and guidance

• 2025 revenue target set at ¥25.42 billion, a 3.92% increase.

• Continued focus on high-end, green, and intelligent development, with strong R&D and capital investment planned.

• Plans to invest ¥7 billion in fixed assets and maintain high R&D intensity.

• External environment remains uncertain, but company expects further improvement in refrigerant profitability.