ShenZhen YUTO Packaging Technology (002831) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached ¥4.91 billion, up 10.45% year-over-year; YTD revenue was ¥12.26 billion, up 13.44% year-over-year.

• Net profit attributable to shareholders for Q3 was ¥617 million, up 11.41% year-over-year; YTD net profit was ¥1.11 billion, up 13.05% year-over-year.

• Basic and diluted EPS for Q3 was ¥0.68, up 13.33% year-over-year; YTD EPS was ¥1.22, up 14.02% year-over-year.

Financial highlights

• Gross margin improved as revenue growth outpaced cost increases; operating profit for YTD was ¥1.37 billion.

• Cash flow from operations for Q3 was ¥1.61 billion, down 37.47% year-over-year due to higher procurement and labor costs.

• Total assets at Q3-end were ¥22.70 billion, up 2.32% from year-end 2023; equity attributable to shareholders was ¥11.24 billion, up 1.71%.

• Non-recurring items had a net negative impact of ¥15.59 million YTD, mainly from asset disposals and government subsidies.

Outlook and guidance

• Management highlighted continued sales growth but noted pressure on cash flow from increased procurement and labor expenses.

• No formal forward-looking financial guidance was provided.