HYCAN HOLDINGS(SZ:002787) Chang Jiang Shang Bao·2025-04-07 01:03Core Viewpoint - The packaging industry is experiencing significant growth opportunities, and Huayuan Holdings (002787.SZ) has achieved remarkable performance in its 2024 annual report, with substantial increases in revenue and net profit [1][2]. Financial Performance - In 2024, Huayuan Holdings reported a revenue of 2.449 billion yuan, representing a year-on-year increase of 1.60% [2][3]. - The net profit reached 70.737 million yuan, showing a dramatic year-on-year growth of 739.00% [2][3]. - The non-recurring net profit was 59.297 million yuan, reflecting a year-on-year increase of 1358.48% [2][3]. - In the first half of 2024, the company achieved a revenue of 1.232 billion yuan, up 7.29% year-on-year, and a net profit of 42.119 million yuan, which is a 325.17% increase [3]. Business Segments - Huayuan Holdings focuses on two main areas: metal packaging and plastic packaging, with metal packaging dominating the revenue, generating 1.831 billion yuan in 2024 [2]. - The chemical can business saw a revenue increase of 7.53%, while the food packaging segment grew by 9.96% [2]. Strategic Expansion - The company is actively expanding into new business areas through acquisitions, including the purchase of a 60% stake in All-Round Precision, which adds battery precision components to its portfolio [4]. - The acquisition of Ruijie Technology in the plastic packaging sector positions Huayuan Holdings as the only listed company capable of providing both metal and plastic packaging in the chemical coating market [4]. - The company has established production bases in several cities across China, enhancing its domestic service capabilities and supporting international market expansion [4]. Operational Efficiency - Huayuan Holdings has implemented lean management practices, optimizing processes to significantly improve production efficiency [2][4]. - The company reported a net cash flow from operating activities of 204 million yuan in 2024, an increase of 33.63% year-on-year, indicating strong financial health [4].