Inner Mongolia Yuan Xing Energy Company (000683) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached ¥3.30 billion, up 23.13% year-over-year; YTD revenue was ¥10.37 billion, up 29.04% year-over-year.

• Net profit attributable to shareholders for Q3 was ¥595.54 million, up 31.30% year-over-year; YTD net profit was ¥1.80 billion, up 19.84% year-over-year.

• Cash flow from operating activities for Q3 was ¥2.99 billion, up 49.94% year-over-year.

Financial highlights

• Basic and diluted EPS for Q3 were ¥0.16, up 23.08% year-over-year; YTD EPS was ¥0.49, up 16.67% year-over-year.

• Gross margin and operating profit improved, with operating income for the period at ¥3.13 billion.

• Total assets at period end were ¥34.63 billion, up 1.56% from year-end; shareholders' equity was ¥14.44 billion, up 7.04%.

• Non-recurring gains for Q3 totaled ¥12.02 million, mainly from government subsidies and asset disposals.

Outlook and guidance

• Management notes increased sales of soda chemical products as a key driver for revenue and profit growth.

• The company expects continued strong demand for soda chemical products and stable operations.