Zhejiang Juhua (600160) investor relations material

Executive summary

• Q3 revenue was RMB 5.746bn, down 18.64% YoY; attributable net income was RMB 771.4m, down 35.58%, with lower sales volumes for some products cited as a key cause.

• 9M revenue was RMB 19.086bn, down 6.41% YoY, while attributable net income rose 5.34% to RMB 3.422bn; quarterly statements were unaudited.

Financial highlights

• Q3 total profit was RMB 1.025bn, down 34.91% YoY; 9M total profit was RMB 4.477bn, up 7.07%.

• 9M operating revenue was RMB 19.086bn versus RMB 20.394bn YoY; operating costs fell to RMB 14.768bn from RMB 16.358bn.

• 9M attributable net income excluding non-recurring items was RMB 3.377bn, up 5.55%; Q3 adjusted attributable net income was RMB 749.2m, down 36.13%.

• 9M operating cash flow was RMB 3.200bn, down 11.80% YoY.

Key financial ratios and metrics

• Q3 basic and diluted EPS were RMB 0.286, down 35.44% YoY; 9M basic and diluted EPS were RMB 1.267, up 5.32%.

• Weighted average ROE was 3.60% for Q3, down 2.44 percentage points YoY, and 15.69% for 9M, down 1.18 percentage points.

• Total assets were RMB 43.498bn at Sep. 30, up 13.85% from year-end; parent shareholders’ equity was RMB 22.236bn, up 8.82%.