Hongfa Co., Ltd. (600885.SH) announced 2024 annual results, with net profit of 1,631 billion yuan to mother, an increase of 17.09% over the previous year

According to the Zhitong Finance App, Hongfa Co., Ltd. (600885.SH) released its 2024 annual report. During the reporting period, the company achieved operating revenue of 14.102 billion yuan, an increase of 9.07% over the previous year. Achieved net profit attributable to shareholders of listed companies of 1,631 billion yuan, an increase of 17.09% over the previous year. Achieved net profit of 1,515 billion yuan after deducting non-recurring profit and loss attributable to shareholders of listed companies, an increase of 13.89% over the previous year. Basic earnings per share were $1.56. It is proposed to distribute a cash dividend of 0.515 yuan (tax included) to all shareholders to transfer 4 shares for every 10 shares by transferring the share capital from capital reserves to all shareholders.

During the reporting period, the company thoroughly implemented the guiding philosophy of the new era of work — “stick to and carry forward Hongfa's characteristics, fully implement the '75+' strategy, and strive to build strong strength and achieve sustainable and healthy development”, with the original intention and forge ahead. The advantages of “7” relay products were further consolidated and expanded, and “5+” products such as switches, connectors, capacitors, fuses, and current sensors developed steadily. The main business indicators all achieved growth exceeding expectations.