Soochow Securities (601555) Q3 2024 earnings summary

Executive summary

• Net profit attributable to shareholders for Q3 2024 surged 86.92% year-over-year, driven by higher investment and fair value gains.

• Revenue for Q3 2024 increased 25.49% compared to the same quarter last year.

• For the first nine months, revenue grew 4.98% and net profit rose 4.93% year-over-year.

Financial highlights

• Q3 2024 revenue: ¥3.39 billion, up 25.49% year-over-year; nine-month revenue: ¥8.44 billion, up 4.98%.

• Q3 2024 net profit: ¥666 million, up 86.92% year-over-year; nine-month net profit: ¥1.83 billion, up 4.93%.

• Basic and diluted EPS for Q3: ¥0.13, up 85.71% year-over-year; nine-month EPS: ¥0.37, up 5.71%.

• Operating cash flow for nine months: ¥23.02 billion; investment cash flow: -¥8.93 billion.

Outlook and guidance

• Profit growth in Q3 attributed to increased investment returns and fair value changes.