China Yangtze Power (600900) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 reached ¥66.33 billion, up 14.65% year-over-year.

• Net profit attributable to shareholders for the same period was ¥28.02 billion, a 30.20% increase year-over-year.

• Growth was driven by increased power generation across six major hydropower stations.

Financial highlights

• Q3 revenue was ¥31.52 billion, up 17.27% compared to Q3 2023.

• Q3 net profit attributable to shareholders was ¥16.66 billion, up 31.81% year-over-year.

• Basic and diluted EPS for Q3 were both ¥0.6810, up 31.81% year-over-year.

• Operating cash flow for the first nine months was ¥47.65 billion, up 30.96% year-over-year.

• Gross margin and other detailed cost breakdowns are not explicitly provided, but operating profit for the first nine months was ¥33.75 billion.

Outlook and guidance

• Management attributes profit and revenue growth to higher hydropower output and expects continued positive performance if generation remains strong.