JCET Group (600584) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached RMB 9.49 billion, up 14.95% year-over-year; YTD revenue was RMB 24.98 billion, up 22.26% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 457 million, down 4.39% year-over-year; YTD net profit was RMB 1.08 billion, up 10.55% year-over-year.

• Excluding non-recurring items, YTD net profit rose 36.73% year-over-year, driven by increased business from key customers and higher capacity utilization.

Financial highlights

• Basic and diluted EPS for Q3 was RMB 0.25, down 3.85% year-over-year; YTD EPS was RMB 0.60, up 11.11% year-over-year.

• Gross margin for the first nine months improved, with operating cash flow up 29.70% year-over-year to RMB 3.93 billion.

• Total assets at Q3-end were RMB 53.62 billion, up 25.93% from the previous year-end.

• Shareholders’ equity increased 2.91% to RMB 26.82 billion.

Outlook and guidance

• Management attributes profit growth to rising customer business and improved capacity utilization.