Shanxi Coking Coal Energy Group (000983) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 was ¥11.52 billion, down 12.28% year-over-year; net income attributable to shareholders was ¥879.66 million, down 21.54% year-over-year.

• For the first nine months, revenue was ¥33.09 billion, down 18.68% year-over-year; net income attributable to shareholders was ¥2.85 billion, down 49.52% year-over-year.

• Declines in coal product sales volume and prices were the main drivers of lower profitability.

Financial highlights

• Operating cash flow for Q3 was ¥2.57 billion, down 71.13% year-over-year.

• Basic and diluted EPS for Q3 were ¥0.1549, down 24.45% year-over-year; for the nine months, EPS was ¥0.5013, down 51.40% year-over-year.

• Gross margin and operating profit both declined significantly due to lower sales and prices.

• Total assets at quarter-end were ¥88.71 billion, down 5.23% from year-end 2023.

• Shareholders’ equity was ¥36.72 billion, down 2.40% from year-end 2023.

Outlook and guidance

• Management attributes profit decline to weak coal market demand and falling prices, with no explicit forward guidance provided.