Hongfa Technology Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Hongfa Technology (SHSE:600885) Third Quarter 2024 Results

Key Financial Results

• Revenue: CN¥3.64b (up 12% from 3Q 2023).
• Net income: CN¥425.1m (up 17% from 3Q 2023).
• Profit margin: 12% (in line with 3Q 2023).
• EPS: CN¥0.41 (up from CN¥0.35 in 3Q 2023).

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

Hongfa Technology EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) exceeded analyst estimates by 15%.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electrical industry in China.

Performance of the Chinese Electrical industry.

The company's shares are down 3.7% from a week ago.

Risk Analysis

Before you take the next step you should know about the 1 warning sign for Hongfa Technology that we have uncovered.

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