China XD Electric Co (601179) Q4 2024 earnings summary

Executive summary

• Achieved operating revenue of ¥22.28 billion, up 5.07% year-over-year; net profit attributable to shareholders reached ¥1.05 billion, up 17.50% year-over-year; operating cash flow surged 176.57% to ¥3.50 billion.

• Maintained industry leadership in UHV market, expanded international business, and completed major acquisition of Henan High Voltage Research Institute.

• Enhanced R&D with investment of ¥1.13 billion (5.08% of revenue), launched multiple national-level projects, and achieved significant product and technology breakthroughs.

• Implemented three cash dividend distributions totaling ¥425 million, representing 40.36% of net profit.

Financial highlights

• Operating revenue: ¥22.18 billion, up 5.59% year-over-year; net profit attributable to shareholders: ¥1.05 billion, up 17.50%.

• Net profit after non-recurring items: ¥996.56 million, up 55.52% year-over-year.

• Operating cash flow: ¥3.50 billion, up 176.57% year-over-year.

• Gross margin: 20.70%, up 2.91 percentage points year-over-year.

• Basic and diluted EPS: ¥0.2057, up 17.54% year-over-year.

• Net assets attributable to shareholders: ¥22.02 billion, up 1.67% year-over-year.

Outlook and guidance

• Expects continued growth driven by national investments in power grid and UHV projects, with focus on smart grid, new energy, and international expansion.

• Plans to further enhance R&D, digital transformation, and market competitiveness, aiming for high-quality growth and world-class enterprise status.