CNGR Advanced Material (300919) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months reached ¥30.16 billion, up 15.17% year-over-year, driven by increased sales of nickel products.

• Net profit attributable to shareholders was ¥1.32 billion, down 4.54% year-over-year.

• Operating cash flow improved 31.37% year-over-year to ¥2.87 billion, reflecting enhanced collection management.

• Several overseas acquisitions and new subsidiaries were established to expand global presence.

Financial highlights

• Q3 revenue was ¥10.08 billion, up 12.91% compared to the same quarter last year.

• Net profit for Q3 was ¥459.5 million, down 25.68% year-over-year.

• Basic and diluted EPS for Q3 were ¥0.49, down 25.76% year-over-year.

• Gross margin declined due to higher costs and increased financial expenses.

• Non-recurring gains for the first nine months totaled ¥182 million, mainly from government subsidies and fair value changes.

Segment performance

• Sales growth was mainly attributed to nickel products and diversified product development.

• Non-wholly owned subsidiaries contributed significantly to minority profit, up 129.41% year-over-year.