Anhui Heli (600761) Q4 2024 earnings summary

Executive summary

• Achieved record-high main economic indicators in 2024, marking 34 consecutive years of industry leadership.

• Focused on high-end, intelligent, and green transformation, with global market expansion and brand elevation.

• Significant breakthroughs in technology, including the launch of the world's largest 55t lithium forklift and ultra-low temperature models.

• Enhanced international presence with new centers in Oceania, Europe, and South America; overseas revenue now nearly 40% of total.

• Completed major acquisitions and investments to strengthen the intelligent logistics and industrial vehicle value chain.

Financial highlights

• Operating revenue reached ¥17.33 billion, up 0.99% year-over-year.

• Net profit attributable to shareholders was ¥1.32 billion, up 0.18% year-over-year.

• Gross margin for main business increased by 1.62 percentage points to 23.25%.

• Overseas revenue grew 13.33% year-over-year, with export volume up 34.08%.

• Operating cash flow was ¥473 million, down 67.83% year-over-year due to increased payments and reduced government subsidies.

Outlook and guidance

• 2025 sales revenue target set at approximately ¥18 billion, with expense control at ¥2.9 billion.

• Strategic focus on high-end, intelligent, and green industry layout, accelerating innovation and digital transformation.

• Plans to further expand international channels and strengthen supply chain resilience.