Jiangsu Yoke Technology (002409) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached ¥1.74 billion, up 42.93% year-over-year; YTD revenue was ¥4.99 billion, up 41.15% year-over-year.

• Net profit attributable to shareholders for Q3 was ¥229 million, up 64.64% year-over-year; YTD net profit was ¥749 million, up 55.80% year-over-year.

• Strong growth driven by LNG and electronic materials segments.

Financial highlights

• Gross margin and operating income improved significantly, with basic EPS at ¥0.4817 for Q3 (up 71.54% year-over-year) and ¥1.5733 YTD (up 55.80%).

• Total assets at period end were ¥14.63 billion, up 16.01% from year-end 2023.

• Net cash from operating activities was ¥273 million for Q3, up 32.63% year-over-year.

• Non-recurring items had a net negative impact of ¥2.28 million YTD, mainly from asset disposals and government subsidies.

Segment performance

• LNG and electronic materials segments contributed most to revenue and profit growth.

• R&D expenses increased 33.26% year-over-year due to more projects.