APT Medical (688617) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached RMB 523.87 million, up 23.05% year-over-year; nine-month revenue totaled RMB 1.52 billion, up 25.63%.

• Net profit attributable to shareholders for Q3 was RMB 185.59 million, up 27.24% year-over-year; nine-month net profit was RMB 528.15 million, up 30.97%.

• Excluding non-recurring items, Q3 net profit rose 53.15% year-over-year; nine-month adjusted net profit increased 41.08%.

Financial highlights

• Basic EPS for Q3 was RMB 1.91, up 27.33% year-over-year; nine-month EPS was RMB 5.44, up 30.77%.

• Diluted EPS for Q3 was RMB 1.91, up 28.19% year-over-year; nine-month diluted EPS was RMB 5.42, up 31.55%.

• Operating cash flow for Q3 was RMB 180.36 million, up 17.69% year-over-year; nine-month operating cash flow was RMB 523.84 million, up 8.11%.

• Gross margin for the nine months improved due to sales scale growth and cost control.

Outlook and guidance

• Profit growth attributed to increased sales scale, enhanced product profitability, and cost control.