Jiangsu Hengli Hydraulic (601100) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 reached ¥6.94 billion, up 9.3% year-over-year.

• Net profit attributable to shareholders was ¥1.79 billion, a 2.2% increase year-over-year.

• Net profit excluding non-recurring items was ¥1.74 billion, up 2.6% year-over-year.

Financial highlights

• Q3 revenue was ¥2.10 billion, up 11.1% compared to the same quarter last year.

• Q3 net profit attributable to shareholders was ¥503.5 million, up 6.1% year-over-year.

• Basic and diluted EPS for the first nine months were both ¥1.34, up from ¥1.31 year-over-year.

• Operating cash flow for the first nine months was ¥1.32 billion, down 18.5% year-over-year.

• Gross margin improved as cost increases were outpaced by revenue growth.

Outlook and guidance

• Management highlighted continued expansion and increased government subsidies.

• No explicit forward guidance was provided, but ongoing investments and market expansion were noted.