Jiangsu Yuyue Medical Equipment & Supply (002223) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue reached ¥1.72 billion, down 9.53% year-over-year; net profit attributable to shareholders was ¥411 million, down 40.95% year-over-year.

• Year-to-date revenue was ¥6.03 billion, a 9.53% decrease from the same period last year; net profit attributable to shareholders was ¥1.53 billion, down 30.09%.

• Non-recurring gains contributed ¥101.6 million in Q3 and ¥257.8 million year-to-date.

Financial highlights

• Gross margin and operating profit declined due to lower revenue and increased costs.

• Basic EPS for Q3 was ¥0.4130, down 41.07% year-over-year; year-to-date EPS was ¥1.5374, down 30.29%.

• Net cash flow from operating activities in Q3 was ¥1.38 billion, down 20.85% year-over-year.

• Total assets at quarter-end were ¥15.49 billion, down 2.96% from year-end 2023.

• Shareholders’ equity increased 6.55% to ¥12.53 billion compared to year-end 2023.

Outlook and guidance

• Management expects continued pressure on profitability due to market and cost challenges.