Wuxi Lead Intelligent Equipment (300450) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue was ¥3.36 billion, down 44.93% year-over-year; net profit attributable to shareholders was ¥149 million, down 86.71% year-over-year.

• Year-to-date revenue reached ¥9.11 billion, a 30.90% decrease from the same period last year; net profit was ¥608 million, down 73.81%.

• Cash flow from operating activities was negative ¥2.59 billion, a 76.74% decline year-over-year.

Financial highlights

• Basic and diluted EPS for Q3 were ¥0.0953, down 86.71% year-over-year; year-to-date EPS was ¥0.3885, down 73.81%.

• Gross margin and other profitability metrics declined sharply due to lower sales and increased credit impairment losses.

• Non-recurring gains for the period were ¥8.77 million in Q3 and ¥20 million year-to-date, mainly from government subsidies.

Key financial ratios and metrics

• Return on equity (ROE) for Q3 was 1.28%, down 86.28% year-over-year; year-to-date ROE was 5.12%, down 73.92%.

• Total assets at period end were ¥34.47 billion, down 2.33% from the start of the year.

• Owner's equity attributable to shareholders was ¥11.95 billion, up 0.88% from year start.