Zhejiang Weixing New Building Materials (002372) H2 2024 earnings summary

Executive summary

• Revenue for 2024 was ¥6.27 billion, down 1.68% year-over-year amid challenging market conditions and intensified competition.

• Net profit attributable to shareholders fell 33.36% year-over-year to ¥954.54 million.

• The company maintained high-quality development and increased market share despite industry headwinds.

Financial highlights

• Operating profit dropped 34.07% year-over-year to ¥1.14 billion.

• Total assets at year-end were ¥6.72 billion, down 7.91% from the start of the year.

• Basic EPS was ¥0.61, a 32.22% decrease year-over-year.

• Net assets per share at year-end were ¥3.20, down 8.83% from the previous year.

Outlook and guidance

• The company focused on sustainable development, strategic focus, and transformation to address market changes.