Goneo Group (603195) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached RMB 4.22 billion, up 5.04% year-over-year; nine-month revenue totaled RMB 12.60 billion, up 8.58% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 1.02 billion, up 3.36% year-over-year; nine-month net profit was RMB 3.26 billion, up 16.00% year-over-year.

• Basic and diluted EPS for the nine-month period were RMB 2.53, up 16.06% year-over-year.

Financial highlights

• Gross margin improved as operating costs rose slower than revenue; operating profit for nine months was RMB 3.89 billion.

• Net cash flow from operating activities for the nine months was RMB 3.01 billion, down 25.01% year-over-year.

• Total assets at quarter-end were RMB 19.34 billion, down 2.14% from year-end 2023.

• Shareholders' equity increased 2.83% to RMB 14.85 billion compared to year-end 2023.

Outlook and guidance

• Management did not provide explicit forward-looking guidance in the report.