Thunder Software Technology (300496) Q4 2024 earnings summary

Executive summary

• Revenue grew 2.72% year-over-year to ¥5.38 billion, with net profit attributable to shareholders down 12.60% to ¥407 million due to lower gross margin and increased R&D investment.

• Significant improvement in H2 2024: revenue up 24.29% and net profit up 190.4% sequentially from H1; Q4 net profit surged 282.76% year-over-year.

• Company remains focused on intelligent operating systems, AI, and global expansion, with robust R&D and strategic partnerships.

Financial highlights

• 2024 revenue: ¥5,384,636,492.15 (+2.72% YoY); net profit attributable to shareholders: ¥407,457,244.79 (-12.60% YoY).

• Gross margin declined by 2.66 percentage points; R&D expenses increased by 8.16% to ¥1.03 billion.

• Operating cash flow: ¥753 million, stable year-over-year.

• Q4 2024 revenue: ¥1.69 billion (+23.76% YoY, +30.67% QoQ); Q4 net profit: ¥255 million (+282.76% YoY, +436.76% QoQ).

• Non-recurring gains: ¥232 million, mainly from fair value remeasurement of T2Mobile Limited equity.

Outlook and guidance

• Plans to further strengthen core businesses and expand high-value segments in 2025.

• Continued global market expansion, with R&D centers in 16 countries and focus on talent acquisition.

• Ongoing investment in AI, IoT, robotics, and next-generation operating systems.