Guangzhou Tinci Materials Technology (002709) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 was ¥3.41 billion, down 17.52% year-over-year; YTD revenue was ¥8.86 billion, down 26.90% year-over-year.

• Net profit attributable to shareholders for Q3 was ¥100.78 million, down 78.25% year-over-year; YTD net profit was ¥338.31 million, down 80.69% year-over-year.

• Cash flow from operating activities for the first nine months was ¥647.51 million, a 54.31% decrease year-over-year.

Financial highlights

• Basic EPS for Q3 was ¥0.05, down 79.17% year-over-year; YTD basic EPS was ¥0.18, down 80.43%.

• Gross margin and operating profit declined due to lower sales and increased financial expenses.

• Total assets at Q3-end were ¥23.98 billion, nearly flat from year-end 2023.

• Owner's equity attributable to shareholders was ¥13.15 billion, down 1.52% from year-end.

Key financial ratios and metrics

• Weighted average ROE for Q3 was 0.77%, down 2.77 percentage points year-over-year; YTD ROE was 2.56%, down 10.93 percentage points.

• Net profit margin and cash conversion ratios declined significantly year-over-year.