Wanhua Chemical Group (600309) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 reached RMB 147.60 billion, up 11.35% year-over-year, with main product sales volumes increasing despite global economic and market fluctuations.

• Net profit attributable to shareholders for the first nine months was RMB 11.09 billion, down 12.67% year-over-year, mainly due to lower product prices and higher raw material costs.

• The company continued to expand production capacity and completed several technical upgrades, leveraging global supply chain advantages.

Financial highlights

• Q3 2024 revenue was RMB 50.54 billion, up 12.48% compared to the same quarter last year.

• Q3 2024 net profit attributable to shareholders was RMB 2.92 billion, down 29.41% year-over-year.

• Basic EPS for the first nine months was RMB 3.53, down 12.84% year-over-year.

• Operating cash flow for the first nine months was RMB 19.31 billion, up 12.65% year-over-year.

Outlook and guidance

• The company remains focused on globalization, differentiation, refinement, and cost control, aiming to further leverage its industrial chain and global supply chain synergies.