Rongsheng Petrochemical (002493) Q3 2024 earnings summary

Executive summary

• Operating income for Q3 2024 was RMB 83.95 billion, down 0.68% year-over-year; YTD revenue reached RMB 245.20 billion, up 2.57% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 18.74 million, down 98.48% year-over-year; YTD net profit was RMB 876.68 million, up 714.73% year-over-year.

• Basic EPS for Q3 was RMB 0.002, down 98.40% year-over-year; YTD basic EPS was RMB 0.09, up 800% year-over-year.

Financial highlights

• Gross operating income for the first nine months was RMB 245.20 billion, up from RMB 239.05 billion year-over-year.

• Net cash flow from operating activities YTD was RMB 19.72 billion, a 976.18% increase year-over-year.

• Total assets at period end were RMB 395.83 billion, up 5.58% from year-end 2023.

• Owner's equity attributable to shareholders was RMB 43.85 billion, slightly down from RMB 44.34 billion at year-end.

Outlook and guidance

• The company’s wholly-owned subsidiary applied for a customs duty guarantee insurance limit of up to RMB 400 million for the period September 2024 to August 2025.