Himile Mechanical Science and Technology (Shandong) (002595) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached ¥2.23 billion, up 26.24% year-over-year; net profit attributable to shareholders was ¥456.85 million, up 15.93% year-over-year.

• Year-to-date revenue totaled ¥6.37 billion, a 20.05% increase; net profit attributable to shareholders was ¥1.42 billion, up 21.23% year-over-year.

• Basic EPS for Q3 was ¥0.5737, up 15.46% year-over-year; year-to-date EPS was ¥1.7845, up 21.28%.

Financial highlights

• Gross margin and operating profit improved, with operating income for the nine months at ¥1.62 billion.

• Cash flow from operations for Q3 was ¥586.38 million, down 48.37% year-over-year due to higher payments for goods, salaries, and reduced bill discounting.

• Total assets at quarter-end were ¥11.29 billion, up 13.86% from year-end 2023; shareholders' equity was ¥9.59 billion, up 11.35%.

• Non-recurring gains for the quarter were ¥17.53 million, mainly from government subsidies.

Outlook and guidance

• Management attributes growth to increased orders and higher inventory of raw materials and work-in-progress.

• Expansion in Thailand supported by increased bank loans for capacity growth.