China Design Group Second Quarter 2024 Earnings: Misses Expectations

Simply Wall St · 08/30 23:18

China Design Group (SHSE:603018) Second Quarter 2024 Results

Key Financial Results

  • Revenue: CN¥870.5m (down 36% from 2Q 2023).
  • Net income: CN¥61.0m (down 64% from 2Q 2023).
  • Profit margin: 7.0% (down from 12% in 2Q 2023). The decrease in margin was driven by lower revenue.
  • EPS: CN¥0.09 (down from CN¥0.25 in 2Q 2023).
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SHSE:603018 Earnings and Revenue Growth August 30th 2024

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

China Design Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 55%. Earnings per share (EPS) also missed analyst estimates by 80%.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Professional Services industry in China.

Performance of the Chinese Professional Services industry.

The company's shares are down 4.7% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 1 warning sign for China Design Group you should be aware of.