Xuan Wu Cloud Technology Holdings Limited (2392.HK) Q3 2024 Earnings Report

Next: Q4 2024

Xuan Wu Cloud Technology

2392.HK

HKD1.100 0.92%

Exchange: HKSE | Sector: Technology | Industry: Software Application

Q3 2024

Published: Sep 30, 2024

Earnings Highlights

Revenue of $251.90M down 32.8% year-over-year
EPS of $0.01 increased by 123.9% from previous year
Gross margin of 21.5%
Net income of 6.68M
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2392.HK

Company 2392.HK

Period Q3 2024

Currency CNY

Report Type Quarterly Earnings

Generated Dec 8, 2025

Executive Summary

Xuan Wu Cloud Technology delivered a revenue decline in QQ3 2024, with reported revenue of 251.9 million CNY, down 32.8% year over year and 22.2% quarter over quarter. Despite the top-line weakness, the company achieved a positive operating income of 3.49 million CNY and a net income of 6.68 million CNY, indicating an ongoing transformation toward better operating leverage. Gross margin remains modest at 21.54%, but showed QoQ improvement, underscoring initial efficiency gains from cost discipline and product mix shifts. Free cash flow remained negative at approximately -2.37 million CNY, and operating cash flow was a negative -2.35 million CNY, signaling working-capital challenges and ongoing investments typical of a growth-oriented SaaS business in its early scale.

Key Performance Indicators

Revenue

Decreasing

251.90M

QoQ: -22.15% | YoY: -32.76%

Gross Profit

Increasing

54.26M

21.54% margin

QoQ: 7.24% | YoY: 4.60%

Operating Income

Increasing

3.49M

QoQ: 270.03% | YoY: 114.37%

Net Income

Increasing

6.68M

QoQ: 307.39% | YoY: 125.86%

EPS

Increasing

0.01

QoQ: 274.60% | YoY: 123.85%

Revenue Trend

Margin Analysis

Financial Highlights

Revenue: 251,904,000 CNY (YoY -32.76%, QoQ -22.15%). Gross Profit: 54,264,000 CNY (YoY +4.60%, QoQ +7.24%), Gross Margin: 21.54%. Operating Income: 3,489,000 CNY (YoY +114.37%, QoQ +270.03%). Net Income: 6,679,000 CNY (YoY +125.86%, QoQ +307.39%). EBITDA: 4,296,000 CNY (EBITDA Margin: 1.71%). EPS: 0.011 CNY (YoY +123.85%, QoQ +274.60%). Net Cash from Operating Activities: -2,354,000 CNY. Free Cash Flow: -2,368,000 CNY. Cash and Short-Term Investments: 104,087,000 CNY. Total Current Assets: 104,087,000 CNY. Total Liabilities: -326,553,000 CNY. Total Stockholders' Equity: 326,553,000 CNY. Note: Several balance sheet lines show sign anomalies in the data; readers should treat balance sheet figures with caution and await audited reconciliation.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	251.90M	-32.76%	-22.15%
Gross Profit	54.26M	4.60%	7.24%
Operating Income	3.49M	114.37%	270.03%
Net Income	6.68M	125.86%	307.39%
EPS	0.01	123.85%	274.60%

Key Financial Ratios

Gross Profit Margin

Fair

21.50%

Gross profit margin is moderate, room for improvement in cost management

Operating Profit Margin

Weak

1.39%

Operating margin is below industry norms, profitability concerns

Net Profit Margin

Weak

2.65%

Net profit margin is below industry norms, profitability concerns

Return on Equity

Weak

2.05%

Return on equity suggests inefficient capital allocation

P/E Ratio

Fair Value

16.15x

P/E ratio in line with market averages

Price to Book

Fair Value

1.32x

Price-to-book ratio reasonable for profitable companies

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q2 2025	410.91	-0.05	+63.1%	View
Q1 2025	205.45	-0.02	-36.6%	View
Q4 2024	251.90	0.01	-65.7%	View
Q3 2024	251.90	0.01	-32.8%	View

Xuan Wu Cloud Technology (2392.HK) Q3 2024 Earnings Report

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

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