China International Capital (3908) Q3 2024 earnings summary

Executive summary

• Operating revenue for the nine months ended September 30, 2024 was RMB13.45 billion, down 23% year-over-year.

• Profit attributable to shareholders for the period was RMB2.86 billion, a 37.97% decrease year-over-year.

• Basic earnings per share for the nine months was RMB0.487, down 42.91% year-over-year.

• The decline in profit was mainly due to lower operating revenue and a decrease in profit margin.

Financial highlights

• Q3 2024 operating revenue was RMB4.54 billion, down 10.03% compared to Q3 2023.

• Q3 2024 profit attributable to shareholders was RMB630 million, down 39.82% year-over-year.

• Net cash generated from operating activities for the nine months was RMB24.37 billion, a significant improvement from a net outflow in the prior year.

• Total assets as of September 30, 2024 were RMB655.38 billion, up 4.98% from December 31, 2023.

• Total equity attributable to shareholders was RMB108.81 billion, up 4.02% from year-end 2023.

Outlook and guidance

• Management attributes the profit decline to decreased operating revenue and margin pressure.

• No forward-looking guidance or projections were provided.