Jinduicheng Molybdenum (601958) Q3 2024 earnings summary

Executive summary

• Revenue for the first three quarters of 2024 reached RMB 10.10 billion, up 14.06% year-over-year.

• Q3 2024 revenue was RMB 3.50 billion, up 4.82% year-over-year.

• Net profit attributable to shareholders for the first three quarters was RMB 2.19 billion, down 6.07% year-over-year.

• Q3 net profit attributable to shareholders was RMB 688 million, down 18.49% year-over-year.

• Profit decline attributed to lower product prices despite higher sales volume and cost controls.

Financial highlights

• Basic and diluted EPS for the first three quarters was RMB 0.680, down 6.08% year-over-year.

• Q3 basic and diluted EPS was RMB 0.213, down 18.70% year-over-year.

• Total assets at period end were RMB 19.89 billion, up 8.76% from year-end 2023.

• Shareholders' equity was RMB 16.28 billion, up 6.32% from year-end 2023.

• Operating profit decreased 6.84% and total profit fell 6.43% year-over-year.

Key financial ratios and metrics

• Weighted average ROE for the first three quarters was 13.68%, down 2.81 percentage points year-over-year.

• Q3 weighted average ROE was 4.50%, down 1.79 percentage points year-over-year.

• Net assets per share rose to RMB 5.05, up 6.32% from the start of the year.

• Operating margin and net margin declined due to higher costs and lower non-recurring income.