Heilongjiang Agriculture Company (600598) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached RMB 1.26 billion, up 20.16% year-over-year; YTD revenue was RMB 4.36 billion, up 9.5% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 364 million, up 9.09% year-over-year; YTD net profit was RMB 1.35 billion, up 4.13% year-over-year.

• Basic and diluted EPS for Q3 were RMB 0.205, up 9.04% year-over-year; YTD EPS was RMB 0.758, up 4.12% year-over-year.

Financial highlights

• Operating cash flow for the first nine months was RMB 2.97 billion, up 7.33% year-over-year.

• Total assets at quarter-end were RMB 10.67 billion, up 22.68% from the previous year-end.

• Shareholders' equity attributable to listed company shareholders was RMB 8.07 billion, up 7.49% from year-end.

• Non-recurring gains and losses for the first nine months totaled RMB -2.18 million, mainly due to government subsidies, investment returns, and asset impairment reversals.

Key financial ratios and metrics

• Weighted average ROE for the first nine months was 4.70%, down 0.04 percentage points year-over-year.

• Gross margin for the first nine months was approximately 38.2%.

• Net margin for the first nine months was approximately 30.8%.