Beijing Easpring Material Technology (300073) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 was RMB 3.54 billion, down 57.85% year-over-year; net profit attributable to shareholders was RMB 287 million, down 69.01%.

• Gross margin for the main business was 13.82%, a decrease of 3.6 percentage points year-over-year.

• Cash flow from operating activities remained stable at RMB 460 million.

• No interim dividend, bonus shares, or capital increase from reserves for the period.

Financial highlights

• Operating income: RMB 3.54 billion, down 57.85% year-over-year.

• Net profit attributable to shareholders: RMB 287 million, down 69.01% year-over-year.

• Basic and diluted EPS: RMB 0.5664, down 69% year-over-year.

• Total assets at period end: RMB 16.41 billion, down 5.72% from year-end 2023.

• Net assets attributable to shareholders: RMB 12.98 billion, down 0.73% from year-end 2023.

• Cash and cash equivalents at period end: RMB 5.4 billion.

Outlook and guidance

• The company will continue to invest in R&D, upgrade product performance, and enhance operational efficiency.

• Plans to accelerate global business layout, especially in Europe, and expand next-generation battery materials.

• Focus on cost reduction, supply chain integration, and strengthening strategic customer relationships.