Jiangsu Eastern ShenghongLtd Second Quarter 2024 Earnings: Misses Expectations

Simply Wall St · 08/31 01:22

Jiangsu Eastern ShenghongLtd (SZSE:000301) Second Quarter 2024 Results

Key Financial Results

  • Revenue: CN¥36.1b (flat on 2Q 2023).
  • Net income: CN¥71.7m (down 93% from 2Q 2023).
  • Profit margin: 0.2% (down from 2.6% in 2Q 2023).
  • EPS: CN¥0.011 (down from CN¥0.14 in 2Q 2023).
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SZSE:000301 Earnings and Revenue Growth August 31st 2024

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

Jiangsu Eastern ShenghongLtd Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 23%. Earnings per share (EPS) also missed analyst estimates by 95%.

Looking ahead, revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Chemicals industry in China.

Performance of the Chinese Chemicals industry.

The company's shares are up 5.6% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for Jiangsu Eastern ShenghongLtd that you should be aware of.