Yangtze Optical Fibre And Cable (6869) Q3 2024 earnings summary

Executive summary

• Operating income for Q3 2024 was RMB 3.35 billion, up 7.46% year-over-year, but year-to-date income fell 13.31% to RMB 8.69 billion.

• Net profit attributable to equity shareholders for Q3 was RMB 195 million, down 28.65% year-over-year; year-to-date net profit dropped 34.94% to RMB 573 million.

• Decline in net profit and earnings per share mainly due to decreased gross profit from lower revenue.

Financial highlights

• Basic and diluted EPS for Q3 were RMB 0.26, down 27.78% year-over-year; year-to-date EPS was RMB 0.76, down 34.48%.

• Weighted average return on equity for Q3 was 1.70%, down 0.78 percentage points; year-to-date was 5.01%, down 3.35 points.

• Total assets as of 30 September 2024 were RMB 30.62 billion, up 5.09% from year-end 2023.

• Total equity attributable to shareholders was RMB 11.58 billion, up 2.46% from year-end 2023.

Outlook and guidance

• Management attributes profit decline to lower gross profit from decreased revenue, indicating ongoing margin pressure.