Beijing Oriental Yuhong Waterproof Technology (002271) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 12.18% YoY to ¥7.888bn, while net profit attributable to shareholders fell 81.99% to ¥44.2m.

• For 9M, revenue increased 10.46% YoY to ¥22.755bn; net profit attributable to shareholders declined 18.79% to ¥657.6m.

Financial highlights

• 9M net profit excluding non-recurring items was ¥645.0m, down 16.13% YoY; basic and diluted EPS were ¥0.28, down 17.65%.

• 9M operating profit was ¥935.2m versus ¥1,087.1m a year earlier; consolidated net profit was ¥651.2m versus ¥786.4m.

• 9M operating cash flow was ¥491.4m, up 18.03% YoY.

Risk factors and uncertainties

• Receivables reached ¥7.498bn at quarter-end, up 33.17% from year-end, attributed to higher revenue; asset impairment losses were ¥317.5m, up 1,077.81% YoY.

• 9M credit impairment losses were ¥789.3m; management cited increased contract-asset and other non-current-asset impairment provisions.

• 9M finance expenses rose 76.52% to ¥211.6m amid higher interest expense, lower interest income and increased FX losses.