Zoomlion Heavy Industry Science and Technology (000157) Q3 2024 earnings summary

Executive summary

• Net profit attributable to shareholders for Q3 2024 increased by 4.42% year-over-year to ¥850.97 million, while revenue declined by 13.89% to ¥9.85 billion for the quarter.

• Year-to-date net profit rose 9.95% to ¥3.14 billion, with revenue down 3.18% to ¥34.39 billion compared to the same period last year.

• Domestic revenue dropped 25.54% year-over-year, while overseas revenue surged 35.42% for the nine-month period.

Financial highlights

• Basic EPS for Q3 was ¥0.10, up 11.11% year-over-year; year-to-date basic EPS was ¥0.38, up 11.76%.

• Gross margin improved as cost controls offset revenue decline; operating cash flow for Q3 was ¥1.21 billion, up 5.74% year-over-year.

• Total assets at quarter-end were ¥128.67 billion, down 1.68% from year-end 2023.

• Shareholders’ equity increased 1.25% to ¥57.11 billion since year-end.

Outlook and guidance

• Management highlighted strong overseas growth as a key driver, offsetting domestic market weakness.

• Focus remains on international expansion and product innovation to sustain growth.