Beijing Beetech (300667) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue reached ¥164.95 million, up 3.98% compared to the same quarter last year, but year-to-date revenue fell 8.22% year-over-year to ¥518.63 million.

• Net loss attributable to shareholders was ¥6.31 million for Q3, a decline of 745.51% year-over-year; year-to-date net loss was ¥3.76 million, down 124.61% year-over-year.

• Cash flow from operating activities was negative ¥18.91 million in Q3, a decrease of 340.78% year-over-year.

Financial highlights

• Gross margin and other detailed margin data not specified, but operating costs and expenses increased, leading to a net loss.

• Basic and diluted EPS for Q3 were both -0.0308, down 741.67% year-over-year; year-to-date EPS was -0.0185, down 124.37%.

• Total assets at Q3-end were ¥1.57 billion, down 2.40% from the previous year-end.

• Shareholders’ equity was ¥1.27 billion, down 0.15% from year-end.

Outlook and guidance

• The company is pursuing a two-step acquisition of Chuangshi Weina, aiming for majority control by 2025, pending due diligence and performance targets.