Lao Feng Xiang Third Quarter 2024 Earnings: Misses Expectations

Lao Feng Xiang (SHSE:600612) Third Quarter 2024 Results

Key Financial Results

• Revenue: CN¥12.6b (down 42% from 3Q 2023).
• Net income: CN¥372.0m (down 46% from 3Q 2023).
• Profit margin: 2.9% (down from 3.2% in 3Q 2023). The decrease in margin was driven by lower revenue.
• EPS: CN¥0.71 (down from CN¥1.32 in 3Q 2023).

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

Lao Feng Xiang Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 49%. Earnings per share (EPS) also missed analyst estimates by 52%.

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

Performance of the Chinese Luxury industry.

The company's shares are down 13% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on Lao Feng Xiang's balance sheet.

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