Universal Scientific Industrial (Shanghai) (601231) H2 2024 earnings summary

Executive summary

• 2024 revenue reached RMB 60.69 billion, down 0.17% year-over-year, with net profit attributable to shareholders at RMB 1.65 billion, down 15.16%.

• EBITDA decreased 8.82% year-over-year to RMB 3.26 billion.

• Declines in most product categories, except for cloud & storage (+13.35%) and automotive electronics (+16.24%).

Financial highlights

• Operating profit was RMB 1.87 billion, down 14.01% year-over-year.

• Total assets increased 1.54% to RMB 40.01 billion; shareholders' equity rose 5.54%.

• Basic EPS was RMB 0.76, down 14.61% year-over-year.

• Cash conversion cycle improved by 13 days to 42 days.

Outlook and guidance

• Q1 2025 revenue expected to decline by up to 5% year-over-year; operating margin to drop by 0.5–0.7 percentage points.

• Guidance is subject to market, trade, and industry conditions.