CIMC Vehicles (Group) Second Quarter 2024 Earnings: EPS: CN¥0.15 (vs CN¥0.70 in 2Q 2023)

CIMC Vehicles (Group) (SZSE:301039) Second Quarter 2024 Results

Key Financial Results

• Revenue: CN¥5.55b (down 19% from 2Q 2023).
• Net income: CN¥297.9m (down 79% from 2Q 2023).
• Profit margin: 5.4% (down from 21% in 2Q 2023). The decrease in margin was driven by lower revenue.
• EPS: CN¥0.15 (down from CN¥0.70 in 2Q 2023).

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

CIMC Vehicles (Group) Earnings Insights

Looking ahead, revenue is forecast to grow 14% 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 share price is broadly unchanged from a week ago.

Valuation

Following the latest earnings results, CIMC Vehicles (Group) may be undervalued based on 6 different valuation benchmarks we assess. To access our thorough examination of analyst consensus click here and discover the expected future direction of the company.

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