CSC Financial (6066) Q3 2024 earnings summary

Executive summary

• Operating revenue for Q3 2024 was RMB4.79 billion, with net profit attributable to equity holders at RMB1.44 billion, up 4.05% year-over-year for the quarter.

• For the first nine months, operating revenue was RMB14.31 billion, down 22.13% year-over-year; net profit attributable to equity holders was RMB4.30 billion, down 24.49% year-over-year.

Financial highlights

• Net profit excluding extraordinary gains and losses for the first nine months fell 33.31% year-over-year, mainly due to lower net fee and commission income and net interest income.

• Basic and diluted EPS for the first nine months were RMB0.45, down 29.69% year-over-year.

• Total assets as of September 30, 2024, reached RMB554.74 billion, up 6.12% from year-end 2023.

• Net cash flows from operating activities for the first nine months were RMB18.17 billion, a significant improvement from negative RMB4.35 billion in the prior year period.

Outlook and guidance

• No explicit forward-looking guidance provided, but management has implemented rectification and compliance measures in response to regulatory actions.