Zhejiang Supor (002032) Q3 2024 earnings summary

Executive summary

• Total operating revenue for the first nine months reached RMB 16.51 billion, up 7.45% year-over-year.

• Net profit attributable to shareholders was RMB 1.43 billion, a 5.19% increase compared to the same period last year.

• Basic and diluted EPS for the period were RMB 1.798, up from RMB 1.700 and RMB 1.697, respectively, year-over-year.

Financial highlights

• Gross margin improved, with operating costs rising at a slower pace than revenue.

• Net cash flows from operating activities remained stable at RMB 1.16 billion.

• Net cash flow from investing activities increased by 117.65% year-over-year, mainly due to reduced outflows for term deposits and financial products.

• Net increase in cash and cash equivalents surged 189.40% year-over-year.

• Total assets at period end were RMB 11.98 billion, down 8.59% from the previous year-end.

Outlook and guidance

• Weighted average return on net assets increased by 0.35 percentage points to 9.19% for the period.

• Management expects continued improvement in profitability and cash flow efficiency.