Jiangsu Yangnong Chemical (600486) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 was RMB 8.02 billion, down 13.57% year-over-year.

• Net profit attributable to shareholders was RMB 1.03 billion, a decrease of 24.61% compared to the same period last year.

• Basic and diluted EPS were both RMB 2.524, down 25.06% year-over-year.

Financial highlights

• Operating cash flow for the first nine months was RMB 3.10 billion, down 14.39% year-over-year.

• Total assets at quarter-end were RMB 17.11 billion, up 8.96% from the end of last year.

• Shareholders' equity reached RMB 10.38 billion, a 7.27% increase from year-end 2023.

• Non-recurring gains for the period totaled RMB 39.08 million, mainly from government subsidies and asset disposals.

Key financial ratios and metrics

• Gross margin for the first nine months was 24.01%, compared to 26.17% in the prior year period.

• Weighted average return on equity was 11.68%, down 4.84 percentage points year-over-year.