Contemporary Amperex Technology (300750) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue reached ¥92.28 billion, down 12.48% year-over-year, while net profit attributable to shareholders rose 25.97% to ¥13.14 billion.

• Year-to-date revenue was ¥259.04 billion, down 12.09% year-over-year, with net profit up 15.59% to ¥36.00 billion.

• Operating cash flow for the first nine months increased 28.09% to ¥67.44 billion.

Financial highlights

• Gross margin improved as net profit grew despite revenue decline.

• Basic EPS for Q3 was ¥2.99, up 25.76% year-over-year; YTD EPS was ¥8.19, up 15.41%.

• Total assets at quarter-end were ¥738.24 billion, up 2.94% from year-end 2023.

• Shareholders’ equity increased 19.85% to ¥236.96 billion.

• Non-recurring gains contributed ¥1.01 billion in Q3 and ¥3.82 billion YTD, mainly from government grants and investment returns.

Outlook and guidance

• No explicit forward guidance provided, but ongoing project expansions and deepened partnerships signal continued investment and growth focus.