Huatai Securities (601688) Q3 2024 earnings summary

Executive summary

• Achieved operating revenue of RMB 13.98 billion for Q3 2024, up 57.82% year-over-year; YTD revenue reached RMB 31.42 billion, up 15.41% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 7.21 billion, up 137.98% year-over-year; YTD net profit was RMB 12.52 billion, up 30.63% year-over-year.

• Excluding non-recurring items, YTD net profit attributable to shareholders was RMB 6.32 billion, down 35.29% year-over-year.

Financial highlights

• Basic EPS for Q3 was RMB 0.78, up 143.97% year-over-year; YTD basic EPS was RMB 1.33, up 30.46% year-over-year.

• Total assets at Q3-end were RMB 847.46 billion, down 6.41% from year-end 2023.

• Net cash flow from operating activities for the first nine months was RMB 94.88 billion.

• Significant one-time gain from disposal of a U.S. subsidiary contributed RMB 6.15 billion to non-recurring profit.

Outlook and guidance

• Management highlighted compliance with all regulatory risk control indicators and no breach of warning thresholds.