Inner Mongolia Junzheng Energy & Chemical Group (601216) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached RMB 6.73 billion, up 54.97% year-over-year; YTD revenue was RMB 18.39 billion, up 30.02% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 726 million, up 11.44% year-over-year; YTD net profit was RMB 2.24 billion, up 2.92% year-over-year.

• Major new projects, including BDO, PTMEG, coking, and methanol, completed construction and entered trial production, driving revenue growth.

Financial highlights

• Gross margin and operating profit improved, with operating profit for the first nine months at RMB 2.65 billion.

• Basic and diluted EPS for Q3 were RMB 0.0860, up 11.40% year-over-year; YTD EPS was RMB 0.2654, up 2.91%.

• Net cash flow from operating activities for the first nine months was RMB 1.30 billion, up 46.85% year-over-year.

• Total assets at quarter-end were RMB 43.30 billion, up 7.78% from year-end 2023.

Outlook and guidance

• All major new production lines have entered trial production, with key performance indicators meeting design standards.

• 450MW photovoltaic project construction is 95% complete, with partial grid connection; full completion expected by year-end.