Executive Summary
Shandong Weigao delivered a resilient QQ3 2024 performance with revenue of 3,225.69 million CNY, up 1.89% year over year but down 2.78% quarter over quarter. The quarter’s gross profit reached 1,579.61 million CNY, yielding a gross margin of 48.97%, a modest year-over-year improvement (up 3.00%) but a sequential decline of 6.43% driven by mix and cost dynamics. Operating income rose 25.76% year over year to 504.91 million CNY, yet declined 20.05% QoQ, resulting in an operating margin of 15.65%. Net income was 479.56 million CNY, up 19.27% from the prior year but down 13.40% from the prior quarter, with an implied net margin of 14.87%. Earnings per share (basic and diluted) stood at 0.10 CNY.
Key Performance Indicators
QoQ: -20.05% | YoY:25.76%
QoQ: -13.40% | YoY:19.27%
QoQ: -16.67% | YoY:14.55%
Key Insights
Revenue: 3225691500; yoy 1.89%; qoq -2.78%
Gross Profit: 1579611000; gross margin 0.4897; yoy 3.00%; qoq -6.43%
Operating Income: 504910500; operating margin 0.1565; yoy 25.76%; qoq -20.05%
Net Income: 479559500; net margin 0.1487; yoy 19.27%; qoq -13.40%
EPS: 0.10; EPS diluted: 0.10; yoy 14.55%; qoq -16.67%
EBITDA: 722323500; EBITDA margin 0.2239; cash flow signals limited by missing operating cash flow data
Financial Position: Cash and cash equivalents 7,780,310,000; short-term investments 310...
Financial Highlights
Revenue: 3225691500; yoy 1.89%; qoq -2.78%
Gross Profit: 1579611000; gross margin 0.4897; yoy 3.00%; qoq -6.43%
Operating Income: 504910500; operating margin 0.1565; yoy 25.76%; qoq -20.05%
Net Income: 479559500; net margin 0.1487; yoy 19.27%; qoq -13.40%
EPS: 0.10; EPS diluted: 0.10; yoy 14.55%; qoq -16.67%
EBITDA: 722323500; EBITDA margin 0.2239; cash flow signals limited by missing operating cash flow data
Financial Position: Cash and cash equivalents 7,780,310,000; short-term investments 310,797,000; total cash & short-term investments 8,321,808,000; total debt 4,193,146,000; net debt -3,587,164,000; current ratio 3.20; quick ratio 2.78; cash ratio 1.28
Balance Sheet Health: Total assets 34,759,849,000; total liabilities 9,418,283,000; total equity 23,751,643,000; goodwill 3,830,629,000; OCI 13,780,747,000; cash/equivalents provide ample liquidity to support operations and capex plans if any.
Note on Cash Flow: The dataset provides limited cash flow detail (operating and investing cash flow lines are not reported). As such, free cash flow cannot be computed from the available data.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
3.23B |
1.89% |
-2.78% |
| Gross Profit |
1.58B |
3.00% |
-6.43% |
| Operating Income |
504.91M |
25.76% |
-20.05% |
| Net Income |
479.56M |
19.27% |
-13.40% |
| EPS |
0.10 |
14.55% |
-16.67% |
Key Financial Ratios
operatingProfitMargin
15.7%
Management Commentary
No QQ3 2024 earnings call transcript is available in the provided dataset. Consequently, management commentary and call-based nuances (strategy updates, operating cadence, or market-condition anecdotes) could not be incorporated.
Forward Guidance
There is no explicit forward guidance disclosed in the provided data. Given the macro backdrop of the Chinese healthcare market and Weigao’s product breadth, the company could benefit from steady hospital demand for single-use devices and ortho/interventional growth. Key factors to monitor include: (1) hospital capex cycles and pricing dynamics in China, (2) product mix shifts toward interventional and orthopedic segments, (3) any gradual improvement in working capital efficiency, and (4) regulatory developments that could affect pricing or competitive dynamics. Our view is cautious but constructive: if the company sustains its margin profile and returns to modest revenue growth, the current liquidity position supports a stable investment profile. Management commentary (where available) would be critical to validate any implied guidance.