Yongxing Special Materials TechnologyLtd Second Quarter 2024 Earnings: Misses Expectations

Simply Wall St · 08/30 22:27

Yongxing Special Materials TechnologyLtd (SZSE:002756) Second Quarter 2024 Results

Key Financial Results

  • Revenue: CN¥2.19b (down 34% from 2Q 2023).
  • Net income: CN¥300.2m (down 69% from 2Q 2023).
  • Profit margin: 14% (down from 29% in 2Q 2023). The decrease in margin was driven by lower revenue.
  • EPS: CN¥0.56 (down from CN¥1.81 in 2Q 2023).
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SZSE:002756 Earnings and Revenue Growth August 30th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Yongxing Special Materials TechnologyLtd Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 24%. Earnings per share (EPS) also missed analyst estimates by 23%.

Looking ahead, revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Metals and Mining industry in China.

Performance of the Chinese Metals and Mining industry.

The company's shares are up 5.5% from a week ago.

Valuation

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