Investment Rating - The investment rating for the company is "Buy" based on its performance relative to market indices [8]. Core Insights - The company reported a revenue of 393.46 million yuan for the first nine months of 2024, representing a year-on-year increase of 7.51%. The net profit attributable to shareholders was 47.50 million yuan, up 27.39% year-on-year, while the net profit excluding non-recurring items was 42.28 million yuan, reflecting a 17.70% increase year-on-year [1]. - In Q3 2024, the company achieved a revenue of 119.23 million yuan, which is a 12.85% increase year-on-year. The net profit attributable to shareholders for this quarter was 18.47 million yuan, marking a significant year-on-year increase of 48.66% [4][5]. - The gross margin for the first nine months of 2024 was 26.60%, a slight decrease of 0.94 percentage points year-on-year, while the net margin improved to 12.18%, an increase of 1.82 percentage points year-on-year [1]. Financial Metrics Summary - For the first nine months of 2024, the company reported a gross margin of 26.60% and a net margin of 12.18%. The sales expense ratio was 4.86%, the management expense ratio was 5.37%, the R&D expense ratio was 3.83%, and the financial expense ratio was -1.42% [1]. - The company’s total assets were reported at 914.15 million yuan, with a net asset value of 511.05 million yuan, and a total share capital of 151.71 million shares [2].
华原股份：Q3单季度收入稳健增长，净利率同比提升