Anhui Heli (600761) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached ¥9.01 billion, up 3.32% year-over-year; net profit attributable to shareholders was ¥803 million, up 22.00% year-over-year.

• Gross margin improved to 21.58%, a 1.96 percentage point increase year-over-year.

• Overseas revenue grew 20.52% year-over-year to ¥3.49 billion, accounting for 38.69% of total revenue.

• Electric forklift sales rose 37.66% year-over-year, making up 62.72% of total sales volume.

• R&D investment was ¥487 million, 5.40% of revenue, with 224 patents granted and 200+ new products launched.

Financial highlights

• Operating income: ¥9.01 billion, up 3.32% year-over-year.

• Net profit attributable to shareholders: ¥803 million, up 22.00% year-over-year.

• Basic and diluted EPS: ¥1.04, up 16.85% year-over-year.

• Net cash from operating activities: ¥257 million, down 45.36% year-over-year.

• Total assets at period end: ¥18.37 billion, up 8.73% from year-end 2023.

Outlook and guidance

• Company will continue to focus on R&D, product structure optimization, and international expansion.

• Plans to increase high-value product sales and grow aftermarket, parts, and smart logistics revenue share to mitigate external risks.

• Domestic economy expected to remain stable with positive long-term outlook; company will adjust strategies in response to market and industry changes.