ShenZhen Woer Heat-Shrinkable Material (002130) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached ¥1.73 billion, up 16.66% year-over-year; YTD revenue was ¥4.82 billion, up 20.13% year-over-year.

• Net profit attributable to shareholders for Q3 was ¥236 million, up 26.10% year-over-year; YTD net profit was ¥655 million, up 36.45% year-over-year.

• Growth driven by expansion in electronic, power, wire, and new energy vehicle product lines.

Financial highlights

• Gross margin for the period was 32.84%, up from 32.31% year-over-year.

• Basic and diluted EPS for Q3 were ¥0.1871, up 26.08% year-over-year; YTD EPS was ¥0.52, up 36.45%.

• Operating cash flow for the period was ¥548.8 million, down 6.96% year-over-year.

• Total assets at period end were ¥9.81 billion, up 8.95% from the previous year-end.

• Shareholders’ equity reached ¥5.34 billion, up 8.77% from year-end.

Outlook and guidance

• Continued focus on market expansion, new product development, and customer acquisition expected to support future growth.

• Ongoing automation and cost reduction initiatives to further improve margins.