Sinomine Resource Group (002738) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 was ¥1,147.62 million, down 18.25% year-over-year; YTD revenue was ¥3,569.35 million, down 28.69% year-over-year.

• Net profit attributable to shareholders for Q3 was ¥72.76 million, down 87.18% year-over-year; YTD net profit was ¥545.75 million, down 73.64% year-over-year.

• Excluding non-recurring items, Q3 net loss was ¥29.52 million, a 105.52% decrease year-over-year.

Financial highlights

• Gross margin and net margin declined sharply due to lower lithium material prices.

• Operating cash flow for Q3 was negative ¥168.29 million, a 106.39% decrease year-over-year.

• Total assets at Q3-end were ¥16,248.68 million, up 2.29% from year-end 2023.

• Shareholders’ equity was ¥11,919.73 million, down 2.12% from year-end 2023.

Outlook and guidance

• The company plans to accelerate copper resource development and commercialize new acquisitions to provide new profit growth points.