Foshan Haitian Flavouring and Food Company (603288) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached ¥6.24 billion, up 9.83% year-over-year; net profit attributable to shareholders was ¥1.36 billion, up 10.50% year-over-year.

• For the first nine months, revenue totaled ¥20.40 billion, up 9.38% year-over-year; net profit attributable to shareholders was ¥4.81 billion, up 11.23% year-over-year.

Financial highlights

• Basic and diluted EPS for Q3 were ¥0.25, up 13.64% year-over-year; for the nine months, EPS was ¥0.87, up 11.54%.

• Operating cash flow for the nine months was ¥2.75 billion, down 20.36% year-over-year.

• Gross margin and operating profit improved, with operating profit for the nine months at ¥5.67 billion.

• Non-recurring gains for the nine months were ¥200 million, mainly from government subsidies and fair value changes.

Key financial ratios and metrics

• Weighted average ROE for Q3 was 4.75%, up 0.16 percentage points year-over-year; for the nine months, ROE was 16.68%, up 0.61 percentage points.

• Total assets at Q3-end were ¥36.01 billion, down 6.29% from year-end 2023.

• Shareholders' equity at Q3-end was ¥29.37 billion, up 2.95% from year-end 2023.