Shanghai Baosight Software (600845) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 was RMB 3.01 billion, down 4.06% compared to the same quarter last year.

• Net profit attributable to shareholders for Q3 was RMB 599 million, a decrease of 15.5% year-over-year.

• For the first nine months, revenue reached RMB 9.76 billion, up 10.64% year-over-year; net profit attributable to shareholders was RMB 1.93 billion, up 3.16%.

Financial highlights

• Q3 basic EPS was RMB 0.211, down 15.6% year-over-year; nine-month basic EPS was RMB 0.68, up 2.72%.

• Operating cash flow for the first nine months was RMB 1.99 billion, up 5.38% year-over-year.

• Total assets at quarter-end were RMB 21.44 billion, down 2.04% from year-end 2023.

• Shareholders’ equity was RMB 11.15 billion, down 1.38% from year-end 2023.

Key financial ratios and metrics

• Gross margin for the first nine months was approximately 36% (calculated from revenue and cost figures).

• Weighted average ROE for Q3 was 5.59%, down 1.33 percentage points year-over-year.

• Weighted average ROE for the nine-month period was 17.41%, down 1.05 percentage points year-over-year.