Opple Lighting (603515) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 was RMB 1.70 billion, down 13.62% year-over-year; year-to-date revenue was RMB 5.07 billion, down 8.09% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 236.62 million, down 9.69% year-over-year; year-to-date net profit was RMB 621.34 million, down 5.68% year-over-year.

• Cash flow from operating activities in Q3 was RMB 173.77 million, down 50.06% year-over-year; year-to-date was RMB 299.76 million, down 71.23% year-over-year.

Financial highlights

• Gross margin for the first nine months was 40.2%, slightly up from 39.1% in the same period last year.

• Basic and diluted EPS for Q3 was RMB 0.31, down 11.43% year-over-year; year-to-date EPS was RMB 0.83, down 4.60% year-over-year.

• Non-recurring gains contributed RMB 55.30 million in Q3 and RMB 119.19 million year-to-date, mainly from government subsidies and fair value changes.

Outlook and guidance

• Management did not provide explicit forward-looking guidance in this report.