Summary by Moomoo AI
KINETIC DEV announced its results for the year ending 2024, reporting a year-on-year revenue growth of 19.2% to RMB 5.656 billion, and a slight increase in net profit of 0.4% to RMB 2.081 billion. Among them, Coal business revenue grew by 13.4% year-on-year to RMB 5.369 billion, with a gross margin maintaining at 55.2% and a net margin of 36.8%.The company completed the acquisition of 100% equity in Taiyuan Hetai in June 2024, and in January 2025, it acquired Seedlife Holdings Limited, actively expanding into new business sectors such as Real Estate Development and Tobacco Products. In terms of financial condition, the company's net debt ratio decreased to 2.9%, significantly improved from 7.1% in 2023; bank loans reduced to RMB 0.878 billion, and cash and cash equivalents stood at RMB...Show More
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