Zhejiang Wanfeng Auto Wheel (002085) Q4 2024 earnings summary

Executive summary

• Achieved revenue of ¥16.26 billion in 2024, up 0.35% year-over-year; net profit attributable to shareholders was ¥653 million, down 10.14% year-over-year.

• Automotive lightweight metal parts business revenue was ¥13.45 billion, up 0.09%; general aviation aircraft manufacturing revenue was ¥2.81 billion, up 1.62%.

• Cash dividend of ¥212 million proposed, with a payout of ¥0.10 per share.

Financial highlights

• Operating income: ¥16.26 billion (+0.35% YoY); net profit attributable to shareholders: ¥653 million (-10.14% YoY).

• Gross margin: 16.53% (down 3.8 percentage points YoY); basic/diluted EPS: ¥0.32 (down 8.57% YoY).

• Net cash from operating activities: ¥1.18 billion (-42.65% YoY); total assets: ¥17.82 billion (+0.98% YoY).

• R&D investment: ¥572 million, 3.52% of revenue.

Outlook and guidance

• 2025 strategy focuses on digital transformation, high-quality growth, and global expansion in both lightweight auto parts and aviation.

• Plans to strengthen partnerships with core new energy vehicle clients, expand magnesium alloy applications, and accelerate eVTOL and electric aircraft development.