Anhui Yingliu Electromechanical (603308) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached RMB 642.41 million, up 3.06% year-over-year, with year-to-date revenue at RMB 1.91 billion, up 5.72% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 74.87 million, down 8.75% year-over-year; year-to-date net profit was RMB 226.80 million, down 6.90% year-over-year.

• Net profit excluding non-recurring items increased 7.60% in Q3 and 11.59% year-to-date compared to the same period last year.

Financial highlights

• Basic and diluted EPS for Q3 were RMB 0.11, down 8.33% year-over-year; year-to-date EPS was RMB 0.33, down 8.33%.

• Gross margin and operating profit details not explicitly stated, but operating cash flow for Q3 dropped 62.15% year-over-year and 99.24% year-to-date.

• Total assets at quarter-end were RMB 11.57 billion, up 10.50% from year-end 2023.

• Shareholders’ equity increased 2.45% to RMB 4.57 billion since year-end.

Outlook and guidance

• Management attributes the sharp decline in operating cash flow to slower receivables collection and increased inventory payments.