Lingyi iTech (002600) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached ¥12.36 billion, up 32.14% year-over-year; net profit attributable to shareholders was ¥712.77 million, up 14.68% year-over-year.

• Year-to-date revenue totaled ¥31.48 billion, with net profit attributable to shareholders at ¥1.41 billion.

• Adjusted net profit (excluding non-recurring items) for Q3 was ¥612.61 million, nearly flat year-over-year.

Financial highlights

• Gross margin for the nine months was 15.85%, down from 20.75% in the prior year.

• Basic and diluted EPS for Q3 were both ¥0.10, up 11.11% year-over-year; year-to-date EPS was ¥0.20, down 25.93% year-over-year.

• Operating cash flow for the nine months was ¥1.44 billion, down 64.15% year-over-year.

• Total assets at quarter-end were ¥41.58 billion, up 11.82% from year-end 2023.

• Net assets attributable to shareholders stood at ¥19.39 billion, up 6.27% from year-end.

Outlook and guidance

• Revenue growth driven by new product business; company expects continued expansion in business scale.