Ginlong Technologies (300763) H2 2024 earnings summary

Executive summary

• Revenue reached ¥6.54 billion in 2024, up 7.23% year-over-year; net profit attributable to shareholders was ¥691 million, down 11.32% year-over-year, mainly due to product mix and pricing adjustments.

• Distributed PV power generation and residential PV system businesses maintained strong growth, offsetting a slight decline in inverter sales.

• R&D and sales expenses increased as the company invested in innovation and market expansion.

Financial highlights

• Operating income: ¥6.54 billion, up 7.23% year-over-year.

• Net profit attributable to shareholders: ¥691 million, down 11.32% year-over-year.

• Operating cash flow: ¥2.05 billion, up 435.34% year-over-year.

• Basic EPS: ¥1.75, down from ¥1.98 last year.

• Gross margin: 31.57%, down 0.81 percentage points year-over-year.

Outlook and guidance

• Focus on R&D, product performance, and market share expansion to strengthen competitive advantages.

• Plans to accelerate new product and technology development, enhance digitalization, and improve operational efficiency.

• Dividend proposal: ¥2 cash dividend per 10 shares, subject to shareholder approval.