Jiangling Motors Corporation (000550) Q3 2024 earnings summary

Executive summary

• Revenue for the first three quarters of 2024 reached RMB 27.73 billion, up 17.96% year-over-year, with net profit attributable to equity holders at RMB 1.17 billion, up 15.52% year-over-year.

• Vehicle sales totaled 242,223 units, a 9.56% increase year-over-year, with growth across light buses, trucks, pickups, and SUVs.

Financial highlights

• Third quarter revenue was RMB 9.81 billion, up 21.44% year-over-year.

• Net profit attributable to equity holders for Q3 was RMB 270.6 million, down 3.38% year-over-year.

• Basic and diluted EPS for the first three quarters were RMB 1.35, up 15.52% year-over-year.

• Net cash generated from operating activities for the first three quarters was RMB 1.73 billion, down 28.53% year-over-year.

Outlook and guidance

• Increased inventories and construction in progress signal ongoing expansion and preparation for higher output.