Hua Xia Bank Co. (600015) Q3 2024 earnings summary

Executive summary

• Net profit attributable to shareholders for Q3 2024 was RMB 6,051 million, up 3.60% year-over-year; for the first nine months, it reached RMB 18,511 million, up 3.10% year-over-year.

• Operating income for Q3 was RMB 22,781 million, down 2.92% year-over-year; for the first nine months, it was RMB 71,135 million, nearly flat year-over-year.

• Total assets as of September 30, 2024, stood at RMB 4,345,642 million, up 2.14% from the end of 2023.

Financial highlights

• Basic EPS for Q3 was RMB 0.38, up 2.70% year-over-year; for the first nine months, RMB 1.04, up 9.47% year-over-year.

• Weighted average ROE for the first nine months was 5.79%, up 0.13 percentage points year-over-year.

• Net interest margin for the first nine months was 1.60%, down 0.30 percentage points year-over-year.

• Net cash outflow from operating activities for the first nine months was RMB 7,451 million, compared to an inflow of RMB 122,139 million in the same period last year.

Outlook and guidance

• Management emphasized efforts to stabilize scale, optimize structure, improve quality, and enhance efficiency, aiming for high-quality development and stable operations.