JCHX Mining Management (603979) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached RMB 2.70 billion, up 32.73% year-over-year; YTD revenue was RMB 6.97 billion, up 31.23%.

• Net profit attributable to shareholders for Q3 was RMB 480 million, up 56.14% year-over-year; YTD net profit was RMB 1.09 billion, up 53.96%.

• Growth driven by expansion in mining services and significant increase in mining resource sales.

Financial highlights

• Gross margin for YTD reached RMB 2.26 billion, up 43.91% year-over-year.

• Basic EPS for Q3 was RMB 0.78, up 52.94% year-over-year; YTD basic EPS was RMB 1.78, up 50.85%.

• Operating cash flow for YTD was RMB 1.36 billion, up 148.24% year-over-year.

• Total assets at Q3-end were RMB 16.12 billion, up 18.33% from year-end 2023.

• Net assets attributable to shareholders at Q3-end were RMB 8.42 billion, up 16.62% from year-end 2023.

Segment performance

• Mining services revenue for YTD was RMB 4.88 billion, up 3.04% year-over-year; gross profit was RMB 1.39 billion, up 2.94%.

• Mining resources development revenue for YTD was RMB 1.97 billion, up 343.56% year-over-year; gross profit was RMB 874 million, up 291.86%.