Shenzhen Forms Syntron Information (300468)) Q2 2024 earnings summary

Executive summary

• Revenue for the first half of 2024 was ¥342.63 million, down 1.41% year-over-year; net profit attributable to shareholders was ¥36.80 million, up 3.84% year-over-year.

• The company maintained its leading position in financial technology solutions, focusing on digital transformation for banks and expanding both domestic and international business.

• Key clients include major domestic and international banks, with continued investment in new technologies such as AI, blockchain, and digital currency.

Financial highlights

• Operating income: ¥342.63 million, down 1.41% year-over-year.

• Net profit attributable to shareholders: ¥36.80 million, up 3.84% year-over-year.

• Net profit excluding non-recurring items: ¥35.20 million, up 5.58% year-over-year.

• Operating cash flow: -¥67.86 million, a further decline from -¥35.46 million last year.

• Basic and diluted EPS: ¥0.0694, up from ¥0.0668 year-over-year.

Outlook and guidance

• The company is focused on leveraging digital transformation opportunities in banking, strengthening technical capabilities, and expanding in the Greater Bay Area and overseas markets.

• Continued investment in R&D for distributed, microservices, blockchain, digital currency, and AI technologies.