Piotech (688072) H2 2024 earnings summary

Executive summary

• Achieved revenue of RMB 4,103.45 million in 2024, up 51.70% year-over-year, driven by strong market demand and successful commercialization of new products and processes.

• Net profit attributable to shareholders reached RMB 688.46 million, a 3.91% increase year-over-year.

• Excluding non-recurring items, net profit attributable to shareholders was RMB 356.46 million, up 14.20% year-over-year.

• Over 1,000 equipment reaction chambers shipped in 2024, setting a new annual record.

Financial highlights

• Operating profit was RMB 678.12 million, down 6.99% year-over-year.

• Total assets at year-end were RMB 15,314.35 million, up 53.61% from the start of the year.

• Shareholders’ equity attributable to the parent was RMB 5,280.46 million, up 14.95% year-over-year.

• Basic EPS was RMB 2.48, and weighted average ROE was 14.13%, down 1.96 percentage points year-over-year.

• Book value per share was RMB 18.88 at year-end.

Outlook and guidance

• Business scale is expected to continue rapid growth, leveraging core competitive advantages in product innovation, customer resources, and after-sales service.

• Ongoing high R&D investment and product iteration to support future growth.