GUANGDONG INVESTMENT (270) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended 30 September 2024 rose 10.4% year-over-year to HK$18,142 million, mainly driven by property investment and development, partially offset by lower construction services in water resources.

• Profit before tax fell 11.2% to HK$5,288 million, and profit attributable to owners decreased 6.1% to HK$3,593 million, impacted by fair value losses on investment properties and currency depreciation.

• Equity attributable to owners increased by 3.5% to HK$43,248 million as of 30 September 2024.

Financial highlights

• Revenue: HK$18,142 million (up 10.4% year-over-year).

• Profit before tax: HK$5,288 million (down 11.2% year-over-year).

• Profit attributable to owners: HK$3,593 million (down 6.1% year-over-year).

• Total assets: HK$138,034 million (down 1.4% from 31 December 2023).

• Equity attributable to owners: HK$43,248 million (up 3.5% from 31 December 2023).

Outlook and guidance

• The company expects China's economy to stabilize and improve, but notes challenges from weak demand, overcapacity, and low expectations.

• Plans to expand in the water resources industry, optimize asset allocation, and seek acquisition opportunities, especially in the Guangdong-Hong Kong-Macao Greater Bay Area.