Canmax Technologies (300390) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 was ¥1.74 billion, down 23.33% year-over-year; year-to-date revenue was ¥5.45 billion, down 38.80% year-over-year.

• Net profit attributable to shareholders for Q3 was ¥88.43 million, down 80.22% year-over-year; year-to-date net profit was ¥923.32 million, down 49.31% year-over-year.

• Basic and diluted EPS for Q3 was ¥0.11, down 79.25% year-over-year; year-to-date EPS was ¥1.10, down 49.54% year-over-year.

Financial highlights

• Gross margin and net margin declined significantly due to a sharp drop in lithium hydroxide prices and reduced sales volume.

• Operating cash flow for Q3 was ¥1.10 billion, down 69.86% year-over-year.

• Total assets at period end were ¥18.07 billion, down 4.23% from the previous year-end.

• Shareholders’ equity at period end was ¥11.92 billion, down 0.23% from the previous year-end.

Outlook and guidance

• The company expects continued pressure on lithium product prices and is focusing on cost control and efficiency improvements.