Bloomage BioTechnology (688363) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue was RMB 1.06 billion, down 7.14% year-over-year; net profit attributable to shareholders fell 77.44% to RMB 20.26 million.

• Net profit for the first nine months was RMB 362 million, a 29.62% decrease year-over-year.

• Decline in profit mainly due to lower revenue and increased management and R&D expenses.

Financial highlights

• Q3 basic and diluted EPS were RMB 0.04, down 78.95% year-over-year; nine-month EPS was RMB 0.75, down 29.91%.

• Operating cash flow for Q3 dropped 80.53% year-over-year to RMB 9.43 million; nine-month operating cash flow rose 16.67% to RMB 274 million.

• Total assets at quarter-end were RMB 8.69 billion, up 2.57% from year-end 2023.

• R&D investment in Q3 was RMB 113 million, up 24.52% year-over-year, accounting for 10.58% of revenue.

Key financial ratios and metrics

• Weighted average ROE for Q3 was 0.29%, down 1.06 percentage points year-over-year; nine-month ROE was 5.10%, down 2.42 percentage points.

• Gross margin for the nine-month period was RMB 1.01 billion.