Shenzhen Sunline Tech Second Quarter 2024 Earnings: Misses Expectations

Shenzhen Sunline Tech (SZSE:300348) Second Quarter 2024 Results

Key Financial Results

• Revenue: CN¥415.6m (down 8.3% from 2Q 2023).
• Net income: CN¥5.63m (up from CN¥4.20m loss in 2Q 2023).
• Profit margin: 1.4% (up from net loss in 2Q 2023). The move to profitability was driven by lower expenses.
• EPS: CN¥0.008 (up from CN¥0.006 loss in 2Q 2023).

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

Shenzhen Sunline Tech Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 32%. Earnings per share (EPS) also missed analyst estimates by 89%.

Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 15% growth forecast for the IT industry in China.

Performance of the Chinese IT industry.

The company's shares are down 1.6% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for Shenzhen Sunline Tech that you should be aware of.

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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.