Seres Group (601127) Q3 2024 earnings summary

Executive summary

• Achieved significant revenue and net profit growth in Q3 2024, driven by product mix optimization and increased sales volume.

• Net profit attributable to shareholders reached ¥4.04 billion for the first nine months, a substantial turnaround from last year's loss.

Financial highlights

• Q3 revenue: ¥41.58 billion; first nine months: ¥106.63 billion, up 636.25% year-over-year.

• Net profit attributable to shareholders: ¥4.04 billion for the first nine months, up from a loss of ¥2.29 billion year-over-year.

• Basic and diluted EPS: ¥2.67 for the first nine months, compared to -¥1.53 year-over-year.

• Operating cash flow: ¥20.01 billion for the first nine months, up from ¥-0.86 billion year-over-year.

• Total assets at Q3-end: ¥91.54 billion, up 78.63% from year-end 2023.

Key financial ratios and metrics

• Gross margin improved due to higher sales of high-value products and refined management.

• Weighted average ROE: 30.42% for the first nine months, up 52.62 percentage points year-over-year.