Ningbo Deye Technology Group First Quarter 2024 Earnings: EPS: CN¥1.01 (vs CN¥1.37 in 1Q 2023)

Ningbo Deye Technology Group (SHSE:605117) First Quarter 2024 Results

Key Financial Results

• Revenue: CN¥1.88b (down 9.6% from 1Q 2023).
• Net income: CN¥432.9m (down 27% from 1Q 2023).
• Profit margin: 23% (down from 28% in 1Q 2023). The decrease in margin was driven by lower revenue.
• EPS: CN¥1.01 (down from CN¥1.37 in 1Q 2023).

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

Ningbo Deye Technology Group Earnings Insights

Looking ahead, revenue is forecast to grow 41% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Machinery industry in China.

Performance of the Chinese Machinery industry.

The company's shares are up 6.3% from a week ago.

Risk Analysis

It's necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Ningbo Deye Technology Group (at least 1 which is a bit concerning), and understanding these should be part of your investment process.

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