Sunresin New Materials Co (300487) Q4 2024 earnings summary

Executive summary

• Achieved record revenue of ¥2.55 billion, up 2.62% year-over-year; net profit attributable to shareholders reached ¥787 million, up 9.79% year-over-year.

• Core business (excluding large lithium extraction projects) grew 24.7% year-over-year to ¥2.45 billion, accounting for 96.1% of total revenue.

• Operating cash flow reached ¥731.8 million, up 9.34% year-over-year, supporting healthy business expansion.

• Overseas sales surged 45.1% year-over-year to ¥655 million, with international business now 25.65% of total revenue.

• Maintained strong R&D investment at ¥146 million, with 5 new domestic and 6 new international patents granted.

Financial highlights

• Gross margin for separation materials was 52.85%, and for system equipment 31.05%.

• Weighted average ROE was 21.33%, down 1.79 percentage points year-over-year.

• Total assets grew 6.85% to ¥6.09 billion; net assets attributable to shareholders rose 13.89% to ¥3.91 billion.

• Asset-liability ratio improved to 35.47% from 39.32% year-over-year.

• Basic EPS was ¥1.56, diluted EPS ¥1.55.

Outlook and guidance

• Focus on stable growth in core materials business and high-quality delivery of major projects, especially in Tibet.

• Continued international expansion, with emphasis on localizing sales and technical support in key overseas markets.

• Ongoing investment in R&D and talent to drive innovation and maintain industry leadership.

• Commitment to ESG principles and sustainable, green manufacturing.