Oppein Home Group (603833) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue was RMB 5.30 billion, down 21.21% year-over-year; YTD revenue was RMB 13.88 billion, down 16.21% year-over-year.

• Net profit attributable to shareholders in Q3 was RMB 1.04 billion, down 11.56% year-over-year; YTD net profit was RMB 2.03 billion, down 12.08%.

• Cash flow from operating activities for the first nine months was RMB 2.70 billion, a 28.14% decrease year-over-year.

Financial highlights

• Basic EPS for Q3 was RMB 1.71, down 11.40% year-over-year; YTD basic EPS was RMB 3.33, down 12.14%.

• Diluted EPS for Q3 was RMB 1.70, down 10.53% year-over-year; YTD diluted EPS was RMB 3.29, down 11.80%.

• Gross margin for the first nine months was RMB 4.93 billion, down from RMB 5.63 billion year-over-year.

• Total assets at quarter-end were RMB 34.93 billion, up 1.70% from year-end 2023.

• Shareholders’ equity at quarter-end was RMB 18.45 billion, up 1.84% from year-end 2023.

Key financial ratios and metrics

• Weighted average ROE for Q3 was 5.71%, down 2.14 percentage points year-over-year; YTD ROE was 10.84%, down 4.00 percentage points.