Woer heat-shrinkable material forecasts strong 2024 results

Shenzhen Woer Heat-Shrinkable Material (SZSE:002130) released its preliminary financial results for 2024, forecasting a substantial increase in both revenue and profitability. The company projects total operating revenue of 693.14 million yuan, a 21.11% year-over-year increase. Operating profit is expected to reach 109.13 million yuan, a 24.60% rise, while total profit is estimated at 107.87 million yuan, reflecting a 23.58% increase. Net profit attributable to shareholders is forecasted at 85.95 million yuan, a 22.70% increase. The company attributes this growth to increased R&D spending, market expansion, gains in its electronic, electrical, and automotive-related product lines, and enhanced automation and operational efficiency. Total assets increased by 14.23% to 10.28 billion yuan.