Great Star posts strong 2024 revenue, up 35.37%

Hangzhou Great Star Industrial (SZSE:002444) reported a substantial increase in operating revenue for 2024, reaching CNY 14.79 billion, a 35.37% increase year-over-year. Net profit attributable to shareholders also saw a significant rise of 36.18%, totaling CNY 2.30 billion. The company's performance was fueled by growth in both its ODM and OBM businesses, with consumer demand for tools and power tools in Europe and North America as primary drivers. The company is continuing with capital improvements and facility expansions in Mexico, Singapore, and Malaysia. The report details investments in R&D, which reached CNY 366 million, and the addition of 1,937 new products. Directors do not anticipate declaring a cash dividend, issuing bonus shares, or transferring capital reserve into share capital.