Xinke Engineering's net profit increased by 19.6% year-on-year to RMB 365.7 million in the second half of last year, and its annual net profit also increased by almost the same rate to RMB 702.3 million.

According to the second half of last year and full-year results released by Xinke Engineering before the opening of the market on Thursday (February 27), the group's annual earnings per share was 22.53 points, an increase of 19.7% year-on-year, and the return on equity rose by 2.5 percentage points to 26.3%.

Year-end dividend of 5 cents per share

The board of directors recommends paying 5 cents of the year-end dividend per share, plus 4 cents of the share paid in each quarter of the first three quarters, and paying 17 cents per share for the whole year, an increase of 6.25% over the previous fiscal year. The dividend payment date is May 15th.

In the second half of last year, the group's revenue increased by 10% year-on-year to RMB 5.76 billion, and earnings before interest and tax (EBIT) increased by 17.7% to RMB 553.5 million.

The revenue of the commercial aerospace business grew by 5% to RMB 2.15 billion, the defense and public safety business grew by 20% to RMB 2.56 billion, and the urban solutions and satellite communications business remained at RMB 1.04 billion.

Further reading

Xinke Engineering obtained a shipbuilding contract to enter the special ship market for offshore operations

Xinke Engineering obtained a shipbuilding contract to enter the special ship market for offshore operations

Xinke Engineering obtained Korean Air's engine maintenance contract

Xinke Engineering obtained Korean Air's engine maintenance contract

For the whole year, the group's revenue increased by 12% to 11.28 billion yuan. Earnings before interest and tax hit a new high, up 18% to 1 billion yuan.

The full-year revenue of the commercial aerospace business increased by 15%, the defense and public safety business increased by 16%, and the urban solutions and satellite communications business increased by 1%.

“Despite the uncertainty and challenges of the environment, we still achieve very strong results in 2024. We believe that even in the face of a rapidly changing environment, our strong fundamentals will allow us to continue to maintain a good momentum. We have solid orders and a highly competitive market position, which will lay the foundation for our continued revenue growth and performance.”

Last year, the group received a new contract of 12.6 billion yuan, of which a new contract worth about 4.3 billion yuan was signed in the fourth quarter. As of the end of last year, the group's total order amount reached 28.5 billion yuan, and orders worth 8.8 billion yuan are expected to be delivered this year.