Yangtze Optical Fibre And Cable (6869) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 was RMB 8.69 billion, down 13.31% year-over-year.

• Net profit attributable to shareholders was RMB 572.94 million, a decrease of 34.94% year-over-year.

• The decline in profit was mainly due to reduced revenue scale and lower gross profit.

Financial highlights

• Q3 revenue reached RMB 3.35 billion, up 7.46% compared to the same quarter last year.

• Net profit for Q3 was RMB 195.19 million, down 28.65% year-over-year.

• Basic and diluted EPS for the first nine months were RMB 0.76, down 34.48% year-over-year.

• Operating cash flow for the first nine months was RMB 743.93 million, up 10.97% year-over-year.

• Total assets at quarter-end were RMB 30.62 billion, up from RMB 29.14 billion at the end of last year.

Outlook and guidance

• Management attributes profit decline to lower revenue and gross profit, indicating ongoing market challenges.