Beijing Shougang Co (000959) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 was ¥25.29 billion, down 8.56% year-over-year.

• Net loss attributable to shareholders was ¥191.11 million, a decline of 135.39% year-over-year.

• Cash flow from operating activities dropped 99.75% year-over-year to ¥2.31 million.

• Decline in profitability mainly due to falling steel prices and weaker economic performance.

Financial highlights

• Year-to-date revenue was ¥81.97 billion, down 3.59% year-over-year.

• Year-to-date net profit attributable to shareholders was ¥203.67 million, down 78.57% year-over-year.

• Basic and diluted EPS for Q3 were both -¥0.0248, down 135.63% year-over-year.

• Gross margin and operating profit both declined significantly.

Outlook and guidance

• Profitability is expected to remain under pressure due to continued low steel prices and challenging market conditions.