Huizhou Desay SV Automotive (002920) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached ¥7.28 billion, up 26.74% year-over-year; net profit attributable to shareholders was ¥568 million, up 60.90% year-over-year.

• For the first nine months, revenue totaled ¥18.97 billion, up 31.13% year-over-year; net profit attributable to shareholders was ¥1.41 billion, up 46.49%.

• Strong growth driven by increased sales scale and improved profitability.

Financial highlights

• Gross margin improved as net profit margin outpaced revenue growth.

• Basic EPS for Q3 was ¥1.04, up 62.50% year-over-year; for the nine months, ¥2.55, up 46.55%.

• Operating cash flow for the nine months was ¥839 million, up 94.35% year-over-year.

• Total assets at period end were ¥19.32 billion, up 7.25% from year-end 2023.

• Shareholders’ equity increased 12.62% to ¥8.96 billion.

Outlook and guidance

• Management attributes growth to expanded sales and expects continued positive momentum.