Beijing SinoHytec Second Quarter 2024 Earnings: Misses Expectations

Beijing SinoHytec (SHSE:688339) Second Quarter 2024 Results

Key Financial Results

• Revenue: CN¥140.7m (up 34% from 2Q 2023).
• Net loss: CN¥50.3m (loss widened by 33% from 2Q 2023).
• CN¥0.52 loss per share (further deteriorated from CN¥0.16 loss in 2Q 2023).

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

Beijing SinoHytec Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 20%. Earnings per share (EPS) also missed analyst estimates by 61%.

Looking ahead, revenue is forecast to grow 35% 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 1.8% from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with Beijing SinoHytec, and understanding this should be part of your investment process.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.