Jiangxi Copper Company (358) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 was RMB 123.27 billion, down 6.63% year-over-year; year-to-date revenue reached RMB 396.37 billion, down 0.80% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 1.37 billion, down 13.64% year-over-year; year-to-date net profit was RMB 4.98 billion, up 0.83% year-over-year.

• Net profit after non-recurring items for Q3 was RMB 981 million, down 31.67% year-over-year; year-to-date figure was RMB 5.97 billion, up 44.28% year-over-year.

Financial highlights

• Basic EPS for Q3 was RMB 0.40, down 13.89% year-over-year; year-to-date EPS was RMB 1.44, up 1.02% year-over-year.

• Net cash flows from operating activities for the first nine months were RMB 495 million, down 93.98% year-over-year.

• Total assets as of September 30, 2024, were RMB 202.91 billion, up 20.67% from year-end 2023.

• Equity attributable to shareholders was RMB 75.90 billion, up 12.57% from year-end 2023.

Outlook and guidance

• Management attributes changes in net profit after non-recurring items to fluctuations in non-recurring profit and loss, including fair value changes and government grants.