Bearing business contributes to profits, SINOMACH Precision releases 2024 annual report

On April 11, China National Machinery Industry Corporation officially released its 2024 financial report. The report discloses in detail the company's full-year operating results and financial status.

From a full-year perspective, the company achieved operating income of RMB 2.66 billion, a year-on-year decrease of 4.5% compared with the previous year; net profit attributable to shareholders of the parent company (net profit attributable to the parent company) reached RMB 280 million, an increase of 8.1% year-on-year; net profit attributable to the parent company after deducting non-recurring gains and losses (net profit attributable to the parent company after deducting non-recurring gains and losses) was RMB 237 million, a year-on-year increase of 24.6%, showing that the profitability of the company's core business is steadily improving; net cash flow from operating activities was RMB 254 million, but it was 30.3% lower than the same period last year, which may be related to the adjustment of the company's investment activities or working capital management strategy; earnings per share (EPS, fully diluted) was RMB 0.529, providing investors with a clear profit indicator.

In the fourth quarter, the company performed particularly well, with operating income of 852 million yuan, a year-on-year surge of 15.1%; net profit attributable to the parent company reached 75.28 million yuan, a year-on-year increase of 321.4%; net profit attributable to the parent company after deducting non-recurring items was 76.16 million yuan, a year-on-year increase of 88.7%; earnings per share was 0.1423 yuan, further verifying the seasonal increase in the company's profitability.

As of the end of the fourth quarter of 2024, the company's total assets had expanded to 6.192 billion yuan, an increase of 19.9% from the end of the previous year, showing a significant increase in the company's asset strength; net assets attributable to shareholders of the parent company (net assets attributable to the parent company) were 3.478 billion yuan, a year-on-year increase of 6.3%, indicating that the company's capital structure is sound and shareholders' equity continues to increase in value.

At the business operation level, SINOMACH Precision clearly pointed out in its 2024 annual report that the bearing business and abrasives and grinding tools business continue to be the core pillars of the company and continue to contribute major profits. During the reporting period, the company achieved major technological breakthroughs in the bearing business, especially in the research and development and market expansion of wind turbine main shaft bearings and gearbox bearings, with remarkable results, laying a solid foundation for the company's long-term development. At the same time, in the abrasives and grinding tools business, the sales revenue of innovative products such as ultra-thin cutting wheels continued to grow, marking the continuous optimization and upgrading of the company's product structure and further enhancing its market competitiveness. The company's management stated that it will unswervingly focus on cutting-edge fields such as new materials, industrial mother machines, high-end equipment, and new energy, and will fully promote the research and development and market promotion of key products such as wind power bearings. Overall, SINOMACH Precision has shown strong development momentum and broad market prospects in the layout and technological innovation of various business segments.