Guanghui Energy (600256) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue was RMB 9.14 billion, down 36.87% year-over-year; net profit attributable to shareholders was RMB 547.52 million, down 24.90% year-over-year.

• For the first nine months, revenue totaled RMB 26.39 billion, down 46.76% year-over-year; net profit attributable to shareholders was RMB 2.00 billion, down 58.72% year-over-year.

• Cash flow from operating activities for the first three quarters was RMB 4.07 billion, up 1.63% year-over-year.

Financial highlights

• Basic and diluted EPS for Q3 was RMB 0.0834, down 24.93% year-over-year; for the first nine months, EPS was RMB 0.3050, down 58.72% year-over-year.

• Total assets at Q3-end were RMB 54.85 billion, down 6.34% from year-end 2023; equity attributable to shareholders was RMB 26.36 billion, down 8.98%.

• Gross margin and net margin declined due to lower sales volumes and prices in natural gas and coal chemical products.

Outlook and guidance

• Management remains focused on cost reduction, efficiency improvement, and safe, stable operations amid a challenging macro environment.

• The company continues to advance major projects in coal, LNG, and green energy, including hydrogen and carbon capture.