Do-Fluoride New Materials (002407) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was ¥8.21 billion, down 31.25% year-over-year; net loss attributable to shareholders was ¥308 million, reversing from a profit of ¥511 million in 2023.

• Gross margin and profitability declined sharply due to industry overcapacity, price competition, and significant asset impairment in the new energy battery segment.

• Cash flow from operations was negative ¥312 million, compared to a positive ¥330 million last year.

Financial highlights

• Operating income: ¥8.21 billion, -31.25% year-over-year.

• Net loss attributable to shareholders: ¥308 million, down from ¥511 million profit in 2023.

• Basic EPS: -¥0.26, compared to ¥0.46 last year.

• Total assets: ¥23.37 billion, up 2.19% from end-2023.

• Net assets attributable to shareholders: ¥8.52 billion, down 8.95% year-over-year.

Outlook and guidance

• Strategic focus on four synergistic business segments: fluorine-based materials, electronic information materials, new energy materials, and new energy batteries.

• Plans to accelerate R&D, cost control, and market expansion, especially in high-end and international markets.

• Ongoing investment in capacity expansion and digital transformation to enhance competitiveness.