Shenzhen Inovance Technology (300124) Q4 2024 earnings summary

Executive summary

• Revenue grew 21.77% year-over-year to ¥37.04 billion, driven by strong growth in new energy vehicle (NEV) business and stable performance in general automation.

• Net profit attributable to shareholders declined 9.62% year-over-year to ¥4.29 billion, mainly due to lower gross margin and reduced investment gains.

• Cash flow from operating activities more than doubled to ¥7.20 billion, reflecting improved collections and robust sales.

• The board proposes a cash dividend of ¥4.1 per 10 shares, totaling ¥1.10 billion.

Financial highlights

• Operating income: ¥37.04 billion, up 21.77% year-over-year.

• Net profit attributable to shareholders: ¥4.29 billion, down 9.62% year-over-year.

• Operating cash flow: ¥7.20 billion, up 113.67% year-over-year.

• Basic and diluted EPS: ¥1.60, down 10.11% year-over-year.

• Gross margin declined due to product mix and increased competition.

Outlook and guidance

• 2025 sales revenue target: 10–30% growth; net profit target: 5–25% growth.

• Focus on internationalization, digitalization, energy management, AI, and humanoid robotics for future growth.

• Continued investment in R&D and capacity expansion, especially in NEV and automation.