Shenzhen Forms Syntron Information (300468)) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue reached ¥187.39 million, up 10.14% year-over-year; YTD revenue was ¥530.01 million, up 2.38% year-over-year.

• Net profit attributable to shareholders for Q3 was ¥15.72 million, down 42.00% year-over-year; YTD net profit was ¥52.52 million, down 16.02% year-over-year.

• Operating cash flow for Q3 was negative ¥50.52 million, a significant decline from the prior year.

Financial highlights

• Gross margin for the nine months was ¥180.89 million, up from ¥167.13 million year-over-year.

• Basic and diluted EPS for Q3 were ¥0.0296, down 42.07% year-over-year; YTD EPS was ¥0.0990, down 16.03%.

• Total assets at quarter-end were ¥1.74 billion, down 0.61% from year-end 2023.

• Shareholders’ equity increased 0.84% to ¥1.62 billion.

Outlook and guidance

• Management highlighted increased accounts receivable and higher prepayments, reflecting revenue growth and increased equipment procurement.