Chongqing Changan Automobile Company (000625) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue was ¥34.24 billion, down 19.85% year-over-year; YTD revenue reached ¥110.96 billion, up 2.54% year-over-year.

• Net profit attributable to shareholders in Q3 was ¥748 million, a 66.44% decrease year-over-year; YTD net profit was ¥3.58 billion, down 63.78%.

• Non-recurring gains contributed ¥236 million in Q3 and ¥1.90 billion YTD, mainly from government subsidies and asset disposals.

Financial highlights

• Q3 basic and diluted EPS were ¥0.08, down 63.64% year-over-year; YTD EPS was ¥0.36, down 64.36%.

• Operating cash flow for the first nine months was ¥4.39 billion, a 74.86% decrease year-over-year.

• Total assets at Q3-end were ¥183.64 billion, down 3.44% from year-end 2023.

• Shareholders’ equity was ¥72.64 billion, up 1.10% from year-end 2023.

Key financial ratios and metrics

• Weighted average ROE for YTD was 4.95%, down 9.89 percentage points year-over-year.

• Gross margin and operating margin details not specified; significant drop in net margin implied by profit decline.