Shanying International (600567) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue reached ¥7.35 billion, down 2.87% compared to the same quarter last year.

• Net loss attributable to shareholders was ¥45 million in Q3, a decline of 129.11% year-over-year.

• Nine-month net profit attributable to shareholders was ¥68.5 million, reversing a loss from the prior year.

Financial highlights

• Year-to-date revenue was ¥21.60 billion, up 1.36% year-over-year.

• Operating cash flow for the first nine months was ¥3.44 billion, up 79.2% year-over-year.

• Basic EPS for Q3 was -¥0.011, and diluted EPS was ¥0.004.

• Gross margin and profitability declined due to lower paper prices.

Outlook and guidance

• Management attributes Q3 profit decline to falling paper prices and lower gross margins.

• Year-to-date profit improvement driven by increased other income and investment gains.