China Hongqiao Group Full Year 2024 Earnings: Beats Expectations

China Hongqiao Group (HKG:1378) Full Year 2024 Results

Key Financial Results

• Revenue: CN¥156.2b (up 17% from FY 2023).
• Net income: CN¥22.4b (up 95% from FY 2023).
• Profit margin: 14% (up from 8.6% in FY 2023). The increase in margin was driven by higher revenue.
• EPS: CN¥2.36 (up from CN¥1.21 in FY 2023).

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

China Hongqiao Group Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 5.6%.

The primary driver behind last 12 months revenue was the The People's Republic of China (PRC) segment contributing a total revenue of CN¥142.8b (91% of total revenue). Notably, cost of sales worth CN¥114.3b amounted to 73% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling CN¥13.9b were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how 1378's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 5.6% growth forecast for the Metals and Mining industry in Hong Kong.

Performance of the Hong Kong Metals and Mining industry.

The company's shares are down 9.2% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 1 warning sign for China Hongqiao Group 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.