Shijiazhuang Kelin Electric (603050.SH) announced its performance for the year 2024, with a net profit of 178 million yuan, a decrease of 40.54%.

Shijiazhuang Kelin Electric (603050.SH) released its annual report for 2024, with the company's operating income reaching 4.099 billion yuan, a year-on-year growth of 4.98%. The net profit attributable to the company's shareholders was 178 million yuan, a decrease of 40.54% year-on-year. The net profit attributable to the company's shareholders after deducting non-recurring gains and losses was 142 million yuan, a decrease of 40.17% year-on-year. The basic earnings per share were 0.65 yuan. In addition, the company plans to distribute cash dividends of 2 yuan (tax included) for every 10 shares to all shareholders, and issue 4.8 bonus shares for every 10 shares. During the reporting period, the company's operating income continued to grow, reaching a historical high. The net profit attributable to the company's shareholders decreased by 40.54%, mainly due to intensified competition in the external market, a decrease in gross profit margin, an increase in operating expenses, and provisions for impairment of assets. The net cash flow generated from operating activities decreased by 76.40%, primarily due to intensified market competition, relatively inflexible payment terms for purchases, and slower than expected progress in receiving payments.