Sunresin New Materials Co (300487) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached ¥597.23 million, up 4.92% year-over-year; year-to-date revenue was ¥1.89 billion, up 19.99% year-over-year.

• Net profit attributable to shareholders for Q3 was ¥192.34 million, up 11.71% year-over-year; year-to-date net profit was ¥596.42 million, up 15.10% year-over-year.

• Basic EPS for Q3 was ¥0.38, up 11.76% year-over-year; year-to-date basic EPS was ¥1.18, up 14.56% year-over-year.

Financial highlights

• Gross margin improved as revenue growth outpaced cost increases; operating profit for the nine-month period was ¥669.65 million, up from ¥568.28 million year-over-year.

• Operating cash flow for Q3 was ¥447.19 million, up 3.32% year-over-year.

• Total assets at period end were ¥5.79 billion, up 1.62% from the previous year-end.

• Shareholders’ equity increased 8.45% to ¥3.73 billion compared to the previous year-end.

Outlook and guidance

• Increased investment in new projects and expansion, as reflected by a 53.81% rise in construction-in-progress assets.

• Enhanced control over subsidiaries, with the stake in a key subsidiary rising from 60% to 82.5%.