Chengxin Lithium Group (002240) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 was ¥919 million, down 50.85% year-over-year; net loss attributable to shareholders was ¥275 million, a decline of 156.83% year-over-year.

• Year-to-date revenue reached ¥3.50 billion, down 47.23% year-over-year; net loss attributable to shareholders was ¥462 million, a decrease of 142.17% year-over-year.

• The lithium battery and new energy sector downturn led to significant price drops in lithium salt products, impacting revenue and profitability.

• Asset impairment provisions and increased foreign exchange losses further contributed to the decline in financial performance.

Financial highlights

• Q3 2024 basic and diluted EPS were both -0.31, down 158.49% year-over-year; year-to-date EPS was -0.51, down 142.50%.

• Operating cash flow for the period was ¥772 million, down 18.75% year-over-year.

• Total assets at period end were ¥21.24 billion, up 2.37% from the previous year-end.

• Shareholders’ equity was ¥12.13 billion, down 6.43% from the previous year-end.

Outlook and guidance

• The company is actively pursuing an H-share listing on the Hong Kong Stock Exchange to support global expansion and enhance international competitiveness.