FAW Jiefang Group (000800) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue was ¥9.53 billion, down 36.90% year-over-year; YTD revenue reached ¥45.14 billion, a 6.21% decrease from last year.

• Net loss attributable to shareholders in Q3 was ¥114.60 million, a decline of 1,135.22% year-over-year; YTD net profit was ¥363.65 million, down 11.82%.

• Operating cash flow for the period was negative ¥1.97 billion, a sharp decline of 114.42% year-over-year.

Financial highlights

• Basic and diluted EPS for Q3 were -0.0248, down 1,133.33% year-over-year; YTD EPS was 0.0786, down 11.59%.

• Total assets at quarter-end were ¥70.80 billion, up 7.48% from the previous year-end.

• Shareholders’ equity was ¥24.15 billion, down 1.38% from year-end.

• Non-recurring gains for Q3 totaled ¥103.76 million, mainly from government subsidies and other non-operating income.

Key financial ratios and metrics

• Gross margin and operating margin not explicitly disclosed; net margin declined due to higher asset impairment and lower revenue.

• Weighted average ROE for Q3 was -0.20%, down 0.47 percentage points year-over-year; YTD ROE was 1.51%, down 0.42 percentage points.