NARI Technology (600406) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached RMB 12.20 billion, up 18.19% year-over-year; YTD revenue was RMB 32.31 billion, up 12.97% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 1.76 billion, up 6.27% year-over-year; YTD net profit was RMB 4.47 billion, up 7.53% year-over-year.

• Basic and diluted EPS for Q3 was RMB 0.22, up 5.63% year-over-year; YTD EPS was RMB 0.56, up 7.23% year-over-year.

Financial highlights

• Gross margin for the first nine months was 29.6%, slightly down from 29.3% in the prior year.

• Operating profit for the first nine months was RMB 5.43 billion, up from RMB 5.08 billion year-over-year.

• Net cash flow from operating activities for the first nine months was RMB 1.77 billion, down 11% year-over-year.

• Total assets at quarter-end were RMB 83.88 billion, down 2.71% from year-end 2023.

• Return on equity (ROE) for the first nine months was 9.47%, down 0.09 percentage points year-over-year.

Key financial ratios and metrics

• Basic and diluted EPS for the first nine months was RMB 0.56, up from RMB 0.52 year-over-year.

• Weighted average ROE for Q3 was 3.84%, flat year-over-year.

• Net profit margin for the first nine months was approximately 13.8%.