Beijing Oriental Yuhong Waterproof Technology (002271) Q4 2024 earnings summary

Executive summary

• Revenue declined 14.52% year-over-year to ¥28.06 billion due to weak downstream demand and price adjustments.

• Net profit attributable to shareholders dropped 95.24% year-over-year to ¥108 million, mainly due to significant credit loss provisions and asset impairment.

• Cash flow from operating activities increased 64.39% year-over-year to ¥3.46 billion, driven by reduced cash outflows for goods and services.

• The company maintained a high dividend payout, with a proposed cash dividend of ¥18.50 per 10 shares.

Financial highlights

• Operating income: ¥28.06 billion, down 14.52% year-over-year.

• Net profit attributable to shareholders: ¥108 million, down 95.24% year-over-year.

• Operating cash flow: ¥3.46 billion, up 64.39% year-over-year.

• Gross margin: 25.80%, down 1.89 percentage points year-over-year.

• Basic EPS: ¥0.0435, down 95.22% year-over-year.

• Total assets: ¥44.72 billion, down 12.62% from the previous year-end.

• Net assets attributable to shareholders: ¥24.93 billion, down 12.12% from the previous year-end.

Outlook and guidance

• The company will focus on channel development, risk control, and cost management to improve operational quality.

• Plans to strengthen its dual-core business in waterproofing and dry-mix mortar, accelerate overseas expansion, and enhance innovation.

• Emphasis on cash flow management, receivables collection, and maintaining a high dividend policy.