Zhejiang Shuanghuan Driveline (002472) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached ¥2.42 billion, up 10.73% year-over-year.

• Net profit attributable to shareholders was ¥265 million, a 20.01% increase year-over-year.

• Year-to-date revenue totaled ¥6.74 billion, up 14.83% from the same period last year.

• Year-to-date net profit attributable to shareholders was ¥738 million, up 25.21% year-over-year.

Financial highlights

• Basic and diluted EPS for Q3 were ¥0.31, up 19.23% year-over-year; year-to-date EPS was ¥0.86, up 22.86%.

• Gross margin and operating profit improved, with operating income rising to ¥891.8 million for the first nine months.

• Net cash flow from operating activities for the first nine months was ¥1.04 billion, down 13.95% year-over-year.

• Total assets at quarter-end were ¥14.5 billion, up 10.11% from year-end 2023.

• Shareholders’ equity increased 6.87% to ¥8.51 billion.

Outlook and guidance

• The company is advancing the spin-off and listing of its subsidiary, which is expected to enhance specialization and maximize shareholder value.