Jiangsu Zhongtian Technology (600522) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 reached ¥34.32 billion, up 4.78% year-over-year.

• Net profit attributable to shareholders was ¥2.31 billion, down 13.12% year-over-year.

• Third quarter net profit rose 20.67% compared to the same quarter last year.

• Cash flow from operating activities for the nine-month period was -¥423 million, compared to -¥965 million a year earlier.

Financial highlights

• Gross margin for the nine-month period was 15.8%, down from 17.1% year-over-year.

• Basic and diluted EPS for the nine-month period was ¥0.68, down from ¥0.779 year-over-year.

• Total assets at quarter-end were ¥57.81 billion, up 5.63% from the end of last year.

• Shareholders’ equity increased 5.13% to ¥34.86 billion compared to year-end 2023.

Outlook and guidance

• Management highlighted increased cash inflows from sales of goods and services as a key driver for improved operating cash flow.