Summary by Futu AI
Zhejiang Shibao released the third quarter report for 2024 on October 29, showing that the company's revenue reached 6.912 billion yuan, a year-on-year increase of 54.09%, with a net profit of 0.451 billion yuan, a significant year-on-year increase of 115.88%. The net profit after deducting non-recurring gains and losses was 0.408 billion yuan, a year-on-year increase of 172.09%. During the reporting period, the company benefited from the accelerating trends of automobile electrification, intelligence, and globalization, as well as the increase in market share of Chinese brand passenger vehicles. Sales of electrification and intelligent steering system products showed significant growth. The net cash flow from operating activities was negative 4,820,372.51 yuan, but increased by 76.62% year-on-year. In terms of shareholder structure, Zhejiang Shibao Holdings Group Co., Ltd. is the largest shareholder with a stake of 35.90%. The report emphasizes that the unaudited financial data is true, accurate, and complete, and is the responsibility of the board members.