Chongqing Changan Automobile Second Quarter 2024 Earnings: Beats Expectations

Simply Wall St · 09/01 02:04

Chongqing Changan Automobile (SZSE:000625) Second Quarter 2024 Results

Key Financial Results

  • Revenue: CN¥39.7b (up 28% from 2Q 2023).
  • Net income: CN¥1.67b (up 145% from 2Q 2023).
  • Profit margin: 4.2% (up from 2.2% in 2Q 2023).
  • EPS: CN¥0.17 (up from CN¥0.07 in 2Q 2023).
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SZSE:000625 Earnings and Revenue Growth September 1st 2024

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

Chongqing Changan Automobile Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 7.1%. Earnings per share (EPS) also surpassed analyst estimates.

Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Auto industry in China.

Performance of the Chinese Auto industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Before you take the next step you should know about the 3 warning signs for Chongqing Changan Automobile that we have uncovered.