Beijing Oriental Yuhong Waterproof Technology (002271) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 was ¥15.22 billion, down 9.69% year-over-year due to weaker-than-expected downstream demand.

• Net profit attributable to shareholders was ¥943 million, a 29.31% decrease year-over-year.

• The company continued to focus on high-quality, stable growth, risk control, and business structure transformation.

• Retail and overseas business segments showed growth, with retail revenue up 7.66% and overseas expansion progressing.

Financial highlights

• Operating income: ¥15.22 billion, down 9.69% year-over-year.

• Net profit attributable to shareholders: ¥943 million, down 29.31% year-over-year.

• Net profit excluding non-recurring items: ¥836 million, down 32.74% year-over-year.

• Operating cash flow: -¥1.33 billion, improved by 66.33% year-over-year.

• Basic and diluted EPS: ¥0.39, down 26.42% year-over-year.

• Total assets: ¥47.29 billion, down 7.59% from year-end 2023.

• Net assets attributable to shareholders: ¥27.36 billion, down 3.58% from year-end 2023.

Outlook and guidance

• The company remains committed to high-quality, stable growth and risk management.

• Focus on expanding non-waterproof and overseas businesses to create new growth drivers.

• No major adverse factors expected to impact ongoing profitability or strategic goals.