Longhua Technology GroupLtd Second Quarter 2024 Earnings: Misses Expectations

Longhua Technology GroupLtd (SZSE:300263) Second Quarter 2024 Results

Key Financial Results

• Revenue: CN¥580.4m (down 1.5% from 2Q 2023).
• Net income: CN¥50.5m (up 27% from 2Q 2023).
• Profit margin: 8.7% (up from 6.7% in 2Q 2023). The increase in margin was driven by lower expenses.
• EPS: CN¥0.057 (up from CN¥0.043 in 2Q 2023).

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

Longhua Technology GroupLtd Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 30%. Earnings per share (EPS) also missed analyst estimates by 24%.

Looking ahead, revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Machinery industry in China.

Performance of the Chinese Machinery industry.

The company's shares are up 7.6% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We have a graphic representation of Longhua Technology GroupLtd's balance sheet and an in-depth analysis of the company's financial position.

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