Zhejiang Century Huatong Group (002602) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached ¥6.25 billion, up 67.29% year-over-year, with YTD revenue at ¥15.53 billion, up 58.66% year-over-year.

• Net profit attributable to shareholders for Q3 was ¥644.90 million, up 14.95% year-over-year; YTD net profit was ¥1.80 billion, up 26.17%.

• Strong growth driven by rapid expansion in overseas gaming and stable domestic gaming operations.

Financial highlights

• Q3 basic EPS was ¥0.09, up 28.57% year-over-year; YTD basic EPS was ¥0.25, up 31.58%.

• Net cash flow from operating activities for Q3 was ¥3.46 billion, up 38.72% year-over-year.

• Total assets at quarter-end were ¥39.30 billion, up 5.22% from year-end 2023; shareholders' equity was ¥26.01 billion, up 4.45%.

• Non-recurring gains for Q3 totaled ¥15.46 million, mainly from tax rebates and government subsidies.

Outlook and guidance

• Management expects continued growth from overseas gaming and stable domestic performance.