Shanghai Baosight Software (600845) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached ¥6.74 billion, up 18.77% year-over-year; net profit attributable to shareholders was ¥1.33 billion, up 14.56% year-over-year.

• Cash flow from operations increased 30.11% year-over-year to ¥1.59 billion.

• Software development and engineering services contributed ¥5.09 billion in revenue, service outsourcing ¥1.60 billion, and system integration ¥0.50 billion.

• Company continued to invest in industrial internet, AI, and robotics, with notable progress in product innovation and market expansion.

• Major business segments maintained steady growth, with core competitiveness in industrial software and digital transformation solutions.

Financial highlights

• Operating income rose 18.77% year-over-year; net profit attributable to shareholders increased 14.56% year-over-year.

• Net cash from operating activities was ¥1.59 billion, up 30.11% year-over-year.

• Basic EPS was ¥0.469, up 13.83% year-over-year; diluted EPS was ¥0.461, up 14.11% year-over-year.

• Gross margin remained robust, with R&D expenses at ¥598 million, down 6.24% year-over-year.

• Total assets at period-end were ¥20.41 billion, down 6.73% from the previous year-end; net assets attributable to shareholders were ¥10.48 billion, down 7.29%.

Outlook and guidance

• Company will continue to focus on high-end, intelligent, green, and efficient development, accelerating digital transformation and industrial intelligence.

• Plans to further expand industrial internet, AI, and robotics applications, and strengthen core technology R&D.

• Management highlights ongoing risks in technology innovation, internal control, and M&A integration.