Ninestar & HG Report Revenue Growth in FY2024

In its 2024 financial report, Ninestar revealed that its operating revenue reached RMB26.4 billion (US$3.61 billion) in fiscal year 2024, up 9.78% compared to the previous year. Net profit attributable to shareholders of the listed company was RMB749 million (US$102.5 million), marking an increase of 112.11% year-over-year.

In 2024, Ninestar’s aftermarket consumables business generated RMB6.17 billion(US$8.44 billion) in operating revenue, up 10.45% year-over-year. However, net profit dropped to RMB74 million(US$10.13 million), down 44.17% compared to last year. Due to fierce market competition, the average selling price of aftermarket consumables declined, leading to a 3% decrease in comprehensive gross profit.

Through proactive sales network expansion, cartridge recycling, and new business drivers such as A3 copier consumables, the company’s market share experienced stable growth in 2024. However, the decline in net profit from the aftermarket consumables business remains an issue to be addressed. The company claimed that it would further optimize its cost structure and enhance product added value to better cope with market competition.

In 2024, Ninestar’s printer business recorded RMB25.00 billion (US$3.42 billion) in operating revenue, up 10.49% year-over-year.

• Pantum reported a 19.87% year-over-year growth in operating revenue, reaching RMB4.66 billion (US$638.03 million). Printer sales volume increased 11.21% compared to last year, with A3 printer sales volume surging 131.44%.
• Lexmark reported an operating revenue of US$2.526 billion, up 7.98% year-over-year. Lexmark’s printer sales volume increased 31.13% compared to last year.

Meanwhile, Ninestar’s integrated circuit business experienced a revenue decline. Geehy Semiconductor reported an operating revenue of RMB1.4 billion (US$192.13 million), down 1.52% year-over-year. However, net profit surged 109.97% year-over-year to RMB363 million (US$49.64 million).

HG reported a 10.50% year-over-year increase in operating revenue for fiscal year 2024, reaching RMB1.18 billion (US$161.74 million). Net profit attributable to shareholders of the listed company was RMB124 million (US$16.97 million), up 29.89% from the previous year. The net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was RMB120 million (US$16.43 million), up 34.11% compared to last year.

Related:

• Ninestar Expects Financial Turning Point for FY 2024
• Ninestar Records Robust Profit Improvement in Q3 2024
• Ninestar Reports Profit Surge in First Half of 2024

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