Huaxin Cement (600801) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached RMB 8.48 billion, up 1.78% year-over-year, while net profit attributable to shareholders dropped 40.17% to RMB 408 million due to lower domestic cement prices.

• For the first nine months, revenue was RMB 24.72 billion, up 2.29% year-over-year, but net profit attributable to shareholders fell 39.26% to RMB 1.14 billion.

Financial highlights

• EBITDA for the first nine months was RMB 5.586 billion, down 9.04% year-over-year.

• Basic and diluted EPS for Q3 were RMB 0.20, down 37.5% and 39.39% year-over-year, respectively.

• Net cash flow from operating activities for the first nine months was RMB 3.38 billion, down 3.46% year-over-year.

• Total assets at quarter-end were RMB 68.83 billion, nearly flat from year-end 2023.

Outlook and guidance

• Management attributes profit decline mainly to falling domestic cement prices and signals continued market pressure.