China Greatwall Technology Group (000066) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached ¥3.53 billion, up 16.05% year-over-year; YTD revenue was ¥9.61 billion, up 19.27% year-over-year.

• Net loss attributable to shareholders in Q3 was ¥266 million, with YTD net loss at ¥688 million, both improving from prior year.

• Basic and diluted EPS for Q3 was -0.082; YTD EPS was -0.213, both improved from the same period last year.

Financial highlights

• Gross margin declined as total costs outpaced revenue growth; operating loss for YTD was ¥583 million.

• Operating cash flow for YTD was negative at ¥871 million, a further decline from last year.

• Total assets at quarter-end were ¥33.94 billion, down 0.57% from year-end; equity attributable to shareholders fell 5.29%.

• Non-recurring gains for YTD totaled ¥24.27 million, mainly from government grants and fair value changes.

Outlook and guidance

• Company continues to adjust financing structure, securing new credit lines and optimizing bank credit allocation to support ongoing operations.