Daqin Railway (601006) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 was RMB 55.21 billion, down 9.18% year-over-year.

• Net profit attributable to shareholders was RMB 8.60 billion, a decrease of 22.57% year-over-year.

• Cash flow from operating activities dropped 64.72% year-over-year to RMB 4.57 billion.

Financial highlights

• Q3 revenue was RMB 18.61 billion, down 8.59% compared to the same quarter last year.

• Q3 net profit attributable to shareholders was RMB 2.74 billion, down 23.34% year-over-year.

• Basic EPS for Q3 was RMB 0.15, a 37.50% decrease year-over-year; for the nine months, EPS was RMB 0.50, down 32.43%.

• Diluted EPS for Q3 was RMB 0.16, down 15.79% year-over-year.

• Total assets at quarter-end were RMB 209.78 billion, up 1.01% from year-end 2023.

• Shareholders’ equity increased 12.56% to RMB 155.07 billion.

Outlook and guidance

• Decline in net profit and cash flow attributed to reduced cash receipts from transportation and increased share capital from convertible bonds.