Western Securities Co. (002673) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue was ¥1.10 billion, down 38.42% year-over-year; net profit attributable to shareholders was ¥75.15 million, down 53.74% year-over-year.

• Year-to-date revenue reached ¥4.43 billion, a 22.59% decrease; net profit attributable to shareholders was ¥728.75 million, down 16.82% year-over-year.

• Basic and diluted EPS for Q3 were ¥0.0168, down 53.72% year-over-year; year-to-date EPS was ¥0.1630, down 16.84%.

Financial highlights

• Operating cash flow for the first nine months was ¥7.71 billion, up 1805.63% year-over-year.

• Net assets attributable to shareholders at period-end were ¥28.26 billion, up 1.14% from year-end.

• Total assets at period-end were ¥96.47 billion, up 0.26% from year-end.

• Non-recurring gains for the period were mainly from government subsidies and tax rebates, totaling ¥12.99 million year-to-date.

Outlook and guidance

• The company plans to opportunistically repurchase shares within a 12-month window, with a maximum price of ¥8.17 per share and a total amount between ¥50 million and ¥100 million.

• Ongoing focus on wealth management transformation and branch network optimization.