BOE Technology Group Company (000725) Q3 2024 earnings summary

Executive summary

• Operating revenue for Q3 2024 reached RMB 50.35 billion, up 8.65% year-over-year; Q1–Q3 2024 revenue totaled RMB 143.73 billion, up 13.61% year-over-year.

• Net profit attributable to shareholders for Q3 2024 was RMB 1.03 billion, a 258.21% increase year-over-year; Q1–Q3 net profit was RMB 3.31 billion, up 223.80% year-over-year.

• Basic and diluted EPS for Q1–Q3 2024 were both RMB 0.09, up 350% year-over-year.

Financial highlights

• Gross margin improved as net profit and EPS surged significantly year-over-year.

• Net cash generated from operating activities for Q1–Q3 2024 was RMB 33.87 billion, up 46.88% year-over-year.

• Total assets as of 30 September 2024 were RMB 417.41 billion, slightly down 0.42% from year-end 2023.

• Equity attributable to shareholders increased 2% to RMB 132.02 billion compared to year-end 2023.

Outlook and guidance

• Increased sales and improved operating cash flow signal positive business momentum.

• Continued focus on transferring construction projects to fixed assets and managing inventory valuation.