Foryou (002906) Q4 2024 earnings summary

Executive summary

• Achieved record revenue of ¥10.16 billion in 2024, up 42.33% year-over-year, with net profit attributable to shareholders rising 40.13% to ¥651 million and adjusted net profit up 43.47%.

• Automotive electronics revenue grew 57.55% to ¥7.60 billion, precision die-casting up 24.39% to ¥2.06 billion; both segments saw significant volume and market share gains.

• R&D investment increased 28.94% to ¥831 million, representing 8.19% of revenue, supporting rapid product innovation and new customer/project wins.

• Major expansion in domestic and overseas capacity, with new plants in Zhejiang and international subsidiaries in Mexico and Thailand.

Financial highlights

• Revenue: ¥10.16 billion (+42.33% YoY); Net profit attributable to shareholders: ¥651 million (+40.13% YoY); Adjusted net profit: ¥632 million (+43.47% YoY).

• Gross margin: 20.69% (down 0.91pp YoY); Automotive electronics margin: 19.20%; Precision die-casting margin: 25.67%.

• Basic/diluted EPS: ¥1.24 (+31.91% YoY); ROE: 10.48% (up 0.84pp YoY).

• Operating cash flow: ¥590 million (+33.37% YoY); total assets: ¥12.21 billion (+29.12% YoY); net assets: ¥6.46 billion (+8.00% YoY).

Outlook and guidance

• 2025 focus on strengthening order, delivery, and risk management, with continued R&D investment and international expansion.

• Plans to further enhance automation, supply chain collaboration, and cost competitiveness, while expanding global footprint.