Executive Summary
Huayu Expressway Group Limited reported a challenging QQ4 2024, reflecting ongoing profitability headwinds in its industrial infrastructure portfolio. Revenue for the quarter was 34,660,500 CNY with gross profit of 5,167,000 CNY, translating to a gross margin of 14.9%. The quarter delivered an operating loss of 10,821,000 CNY and a net loss of 10,216,000 CNY, with EBITDA of -1,316,000 CNY. The negative profitability extended to cash flow, as operating cash flow stood at -80,107,500 CNY and free cash flow was -131,530,500 CNY. YoY comparisons show material deterioration: revenue down 46.8%, gross profit down 63.4%, net income down 94.5%, and EPS down 95.3% (all vs. QQ4 2023). QoQ metrics were flat, indicating no sequential improvement in the quarter.
Key Performance Indicators
QoQ: 0.00% | YoY:-1 203.73%
Key Insights
Revenue: 34,660,500 CNY; YoY change: -46.80%; QoQ change: 0.00%; Gross Profit: 5,167,000 CNY; Gross Margin: 14.90%; YoY Gross Profit change: -63.39%; QoQ: 0.00%; Operating Income: -10,821,000 CNY; YoY: -1203.73%; Operating Margin: -31.22%; QoQ: 0.00%; Net Income: -10,216,000 CNY; Net Margin: -29.47%; YoY: -94.48%; EPS: -0.0248 CNY; YoY: -95.28%; QoQ: 0.00%; EBITDA: -1,316,000 CNY; EBITDA Margin: approximately -3.80% (based on revenue); OCF: -80,107,500 CNY; Free Cash Flow: -131,530,500 CNY; Cape...
Financial Highlights
Revenue: 34,660,500 CNY; YoY change: -46.80%; QoQ change: 0.00%; Gross Profit: 5,167,000 CNY; Gross Margin: 14.90%; YoY Gross Profit change: -63.39%; QoQ: 0.00%; Operating Income: -10,821,000 CNY; YoY: -1203.73%; Operating Margin: -31.22%; QoQ: 0.00%; Net Income: -10,216,000 CNY; Net Margin: -29.47%; YoY: -94.48%; EPS: -0.0248 CNY; YoY: -95.28%; QoQ: 0.00%; EBITDA: -1,316,000 CNY; EBITDA Margin: approximately -3.80% (based on revenue); OCF: -80,107,500 CNY; Free Cash Flow: -131,530,500 CNY; Capex: -51,423,000 CNY; Cash and cash equivalents: 185,756,000 CNY; Total debt: 247,521,000 CNY; Net debt: 61,765,000 CNY; Current ratio: 3.04; Quick ratio: 1.378; Inventory: 390,608,000 CNY; DSO: 12.57 days; Days of Inventory Outstanding: 1,191.95 days; CCC: 1,204.52 days.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
34.66M |
-46.80% |
0.00% |
| Gross Profit |
5.17M |
-63.39% |
0.00% |
| Operating Income |
-10.82M |
-1 203.73% |
0.00% |
| Net Income |
-10.22M |
-94.48% |
0.00% |
| EPS |
-0.02 |
-95.28% |
0.00% |
Key Financial Ratios
operatingProfitMargin
-31.2%
Management Commentary
No QQ4 2024 earnings call transcript content provided. As a result, no management quotes or themes from the earnings call could be extracted for this report.
Forward Guidance
The QQ4 2024 release does not provide explicit forward guidance. Investors should monitor: (1) toll-road traffic volumes and related toll revenue recovery, (2) ongoing cost rationalization and SG&A efficiency, (3) capital expenditure cadence and potential asset monetization or refinancing options to reduce near-term cash burn, (4) debt refinancing opportunities given modest leverage alongside negative free cash flow. Absent visible improvement in traffic trends or a clear balance-sheet optimization plan, near-term profitability remains a material concern.