Great Wall Motor Company (2333) Q3 2024 earnings summary

Executive summary

• Total operating income for Q3 2024 was RMB 50.83 billion, up 2.61% year-over-year; for the first nine months, income reached RMB 142.25 billion, up 19.04% year-over-year.

• Net profit attributable to shareholders for Q3 2024 was RMB 3.35 billion, down 7.82% year-over-year; for the first nine months, net profit was RMB 10.43 billion, up 108.78% year-over-year.

• Net profit after non-recurring gains/losses for the first nine months was RMB 8.37 billion, up 119.93% year-over-year.

Financial highlights

• Basic earnings per share for the first nine months was RMB 1.23, up from RMB 0.59 year-over-year.

• Diluted earnings per share for the first nine months was RMB 1.22, up from RMB 0.59 year-over-year.

• Net cash flow from operating activities for the first nine months was RMB 14.20 billion, compared to negative RMB 1.87 billion in the prior year.

• Total assets as of 30 September 2024 were RMB 204.37 billion, up 1.54% from year-end 2023.

• Owner's equity attributable to shareholders was RMB 77.33 billion, up 12.89% from year-end 2023.

Outlook and guidance

• Profit growth attributed to high-quality development, product quality, overseas sales growth, and improved domestic product mix.