BOC International (601696) Q3 2024 earnings summary

Executive summary

• Q3 2024 net profit attributable to shareholders rose 43.28% year-over-year to RMB 236.2 million, with revenue up 10.19% to RMB 674.6 million.

• Nine-month net profit attributable to shareholders fell 18.48% year-over-year to RMB 660.6 million, with revenue down 12.87% to RMB 1.92 billion.

• Basic and diluted EPS for Q3 were RMB 0.09, up 50% year-over-year; nine-month EPS was RMB 0.24, down 17.24%.

Financial highlights

• Q3 2024 operating income: RMB 674.6 million, up 10.19% year-over-year; nine-month operating income: RMB 1.92 billion, down 12.87%.

• Q3 net profit: RMB 236.2 million, up 43.28% year-over-year; nine-month net profit: RMB 660.6 million, down 18.48%.

• Q3 net profit excluding non-recurring items: RMB 183.8 million, up 12.56% year-over-year.

• Operating cash flow for nine months: RMB 14.74 billion.

• Total assets at Q3-end: RMB 74.52 billion, up 7.3% from year-end 2023.

Key financial ratios and metrics

• Weighted average ROE for Q3: 1.33%, up 0.36 percentage points year-over-year; nine-month ROE: 3.77%, down 1.05 points.

• Net capital at Q3-end: RMB 15.12 billion; net capital/total risk reserves: 299.18%.

• Net capital/total assets: 88.59%; net capital/liabilities: 88.05%.