SUMEC(SH:600710) Tai Ping Yang Zheng Quan·2025-05-06 08:46Investment Rating - The report maintains an "Accumulate" rating for the company [1][6] Core Views - The company achieved a net profit of 1.148 billion RMB in 2024, representing a year-on-year increase of 11.69%, while total revenue decreased by 4.75% to 117.2 billion RMB [3][6] - The company plans to distribute a cash dividend of approximately 482 million RMB, which corresponds to a dividend yield of about 4.07% based on the stock price at the time of the report [3][6] - The company is positioned as a "organizer and integrator" of global supply chains and industrial chains, supported by its dual-driven strategy [6] Financial Summary - In 2024, the company reported total revenue of 117.2 billion RMB, a decrease of 4.75% year-on-year, with a net profit of 1.148 billion RMB, an increase of 11.69% [3][7] - The company’s main business segments include industrial chain and supply chain services, with the industrial chain segment generating revenue of 33.464 billion RMB, up 6.9% year-on-year, while the supply chain segment saw a revenue decline of 8.6% to 83.508 billion RMB [5][6] - The company’s diluted earnings per share for 2024 is projected to be 0.88 RMB, with a weighted ROE of 15.81% [3][7]