Shandong Linglong Tyre (601966) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached ¥5.57 billion, up 5.22% year-over-year; YTD revenue was ¥15.95 billion, up 9.77% year-over-year.

• Net profit attributable to shareholders in Q3 was ¥786 million, up 97.30% year-over-year; YTD net profit was ¥1.71 billion, up 78.39%.

• Excluding non-recurring items, Q3 net profit was ¥469 million, up 19.57% year-over-year; YTD was ¥1.40 billion, up 56.72%.

• Strong profit growth driven by increased sales volume, higher capacity utilization, and improved gross margin.

Financial highlights

• Basic and diluted EPS for Q3 was ¥0.54, up 100% year-over-year; YTD EPS was ¥1.17, up 80%.

• Operating cash flow for the first nine months was ¥1.40 billion, up 347.37% year-over-year.

• Total assets at quarter-end were ¥45.96 billion, up 6.08% from year-end 2023.

• Shareholders’ equity reached ¥21.86 billion, up 4.58% from year-end 2023.

Outlook and guidance

• Management attributes profit growth to higher sales, improved capacity utilization, and gross margin expansion.

• Q3 profit also benefited from receipt of U.S. anti-dumping duty rebates.