SOFE(SZ:000852) Mei Ri Jing Ji Xin Wen·2025-04-24 12:00Core Viewpoint - The company reported a decline in revenue for 2024 but achieved a growth in net profit attributable to shareholders, indicating a mixed financial performance amidst industry challenges [1][2]. Financial Performance - In 2024, the company achieved an operating income of 8.037 billion, a year-on-year decrease of 4.3% [2]. - The net profit attributable to shareholders after deducting non-recurring items was 76.94 million, reflecting a significant increase of 47.21% year-on-year [2]. - In Q4 2024, the company recorded an operating income of 2.393 billion, a year-on-year increase of 5.37%, and a net profit of 14.76 million, marking a turnaround from losses [2][3]. - The company's accounts receivable rose to 2.837 billion, accounting for nearly 30% of total assets by the end of 2024 [1]. Product Performance - Revenue from hydrogen equipment saw a remarkable increase of over 100% year-on-year in 2024 [1][2]. - Revenue from oil machinery equipment grew by 11.62%, increasing its revenue share from 48% in 2023 to 55.99% in 2024 [2]. - Other business segments, including natural gas technology services, experienced a revenue growth of 24.07%, while revenues from drill bits and oil pipes declined [2]. Regional Performance - The company's overseas revenue surged by 51.89% year-on-year, while domestic revenue fell by 11.02% [2]. Investment Projects - The company has high expectations for the hydrogen industry, which is anticipated to experience significant growth due to policy support and technological advancements [4]. - The hydrogen equipment integration manufacturing and testing project has not yet utilized the raised funds as of the end of 2024, with land acquisition still pending [5]. - The project is expected to reach operational status by December 31, 2025, aligning with the company's long-term strategic goals [4][5].