Dynagreen Environmental Protection Group (1330) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 was RMB 2.54 billion, down 16.37% year-over-year, mainly due to fewer construction projects and lower construction revenue.

• Net profit attributable to shareholders for the period was RMB 503.6 million, a decrease of 6.02% year-over-year.

• Operating cash flow improved significantly, up 60.04% year-over-year to RMB 1.05 billion, driven by better receivables collection and reduced construction outflows.

Financial highlights

• Q3 2024 revenue: RMB 883.5 million, down 1.90% from Q3 2023.

• Q3 2024 net profit attributable to shareholders: RMB 200.6 million, up 16.75% year-over-year.

• Basic and diluted EPS for the first nine months: RMB 0.36 and RMB 0.35, respectively.

• Total assets as of 30 September 2024: RMB 22.40 billion; owners' equity: RMB 8.12 billion.

Outlook and guidance

• Waste input, electricity generation, and steam supply volumes all increased year-over-year, indicating operational growth despite revenue decline.