Sichuan Chuantou Energy Co. (600674) Q3 2024 earnings summary

Executive summary

• Net profit attributable to shareholders for the first nine months reached ¥4.42 billion, up 15.10% year-over-year.

• Operating revenue for the same period was ¥1.09 billion, a 6.48% increase compared to last year.

• Growth was driven by improved hydropower inflows at subsidiary power companies and higher investment income from associates.

Financial highlights

• Basic and diluted EPS for the first nine months were ¥0.9133, up 6.04% and 12.75% year-over-year, respectively.

• Weighted average ROE for the first nine months was 10.89%, up 0.40 percentage points year-over-year.

• Total assets at quarter-end were ¥64.54 billion, up 6.94% from the previous year-end.

• Shareholders' equity increased 13.41% to ¥42.07 billion.

• Operating profit rose to ¥4.56 billion, up 15.19% year-over-year.

Segment performance

• Revenue growth was mainly driven by improved hydropower inflows at subsidiary Chuantou Electric Power.

• Profit growth benefited from higher investment income from associates and lower financial expenses due to convertible bond conversions and lower interest rates.

• Increased profits from both subsidiaries and associates contributed to overall earnings growth.