Ningxia Baofeng Energy Group (600989) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached ¥7.38 billion, up 0.91% year-over-year; nine-month revenue totaled ¥24.27 billion, up 18.99% year-over-year.

• Net profit attributable to shareholders in Q3 was ¥1.23 billion, down 24.60% year-over-year; nine-month net profit was ¥4.54 billion, up 16.60% year-over-year.

• Operating cash flow for Q3 was ¥1.63 billion, up 2.24% year-over-year; nine-month operating cash flow was ¥5.78 billion.

Financial highlights

• Basic and diluted EPS for Q3 were ¥0.17, down 22.73% year-over-year; nine-month EPS was ¥0.62, up 16.98% year-over-year.

• Total assets at quarter-end were ¥87.37 billion, up 21.97% from year-end 2023.

• Shareholders’ equity reached ¥41.37 billion, up 7.35% from year-end 2023.

• Gross margin for the nine months was approximately 33.7%.

Key financial ratios and metrics

• Weighted average ROE for Q3 was 3.05%, down 1.47 percentage points year-over-year; nine-month ROE was 11.24%, up 0.24 percentage points.

• Net margin for the nine months was 18.7%.