Zhejiang Longsheng Group (600352) Q4 2024 earnings summary

Executive summary

• Achieved revenue of ¥15.88 billion, up 3.79% year-over-year; net profit attributable to shareholders was ¥2.03 billion, up 32.36% year-over-year; adjusted net profit (excluding non-recurring items) was ¥1.84 billion, up 12.84% year-over-year.

• Manufacturing (intermediates and dyes) remained the core business, with intermediates sales up 16.55% and dyes sales up 7.17% year-over-year.

• Real estate segment contributed to cash flow and profit, with high sell-through rates in key projects.

Financial highlights

• Operating income: ¥15.88 billion, up 3.79% year-over-year.

• Net profit attributable to shareholders: ¥2.03 billion, up 32.36% year-over-year.

• Adjusted net profit: ¥1.84 billion, up 12.84% year-over-year.

• Operating cash flow: ¥9.27 billion, up 236.79% year-over-year.

• Basic EPS: ¥0.6320, up 30.01% year-over-year.

• Net assets: ¥34.28 billion, up 4.06% year-over-year.

• Total assets: ¥72.01 billion, up 6.20% year-over-year.

Outlook and guidance

• 2025 revenue target: ¥14.5 billion; profit before tax: ¥2.35 billion; net profit: ¥1.85 billion.

• Focus on maintaining leadership in textile chemicals and intermediates, with continued investment in green and intelligent manufacturing.