Southwest Securities (600369) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue reached RMB 573 million, up 38.92% year-over-year; net profit attributable to shareholders was RMB 143 million, up 31.82% year-over-year.

• Year-to-date (Jan–Sep) revenue was RMB 1.76 billion, down 6.40% year-over-year; net profit attributable to shareholders was RMB 483 million, down 15.29% year-over-year.

• The company actively pursued reform and innovation, capitalizing on market opportunities to drive growth.

Financial highlights

• Q3 2024 basic and diluted EPS were RMB 0.02; year-to-date EPS was RMB 0.07, down 22.22% year-over-year.

• Weighted average ROE for Q3 was 0.56%, up 0.12 percentage points; year-to-date ROE was 1.89%, down 0.38 percentage points.

• Total assets at Q3-end were RMB 83.63 billion, down 1.23% from year-end 2023; shareholders’ equity was RMB 25.63 billion, up 0.86%.

• Net cash flow from operating activities for Jan–Sep was RMB 4.26 billion, a significant improvement from a net outflow in the prior year.

Outlook and guidance

• The company proposed a Q3 cash dividend of RMB 0.1 per 10 shares, totaling RMB 66.45 million, pending shareholder approval.

• Plans to enhance shareholder returns with multiple dividends throughout the year.