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Sobute new materials (603916) Third Quarter Report Review 2024: Differentiated business performance, profit under temporary pressure.
Subject: In the first three quarters of 2024, the company achieved revenue of 2.476 billion yuan, a year-on-year decrease of 3.9%, and a net income attributable to the parent company of 0.079 billion yuan, a year-on-year decrease of 44.43%; of which the third quarter achieved revenue of 9.12 billion yuan.
Sobute new materials (603916): the price of water reducing agent is under pressure, the prosperity of functional materials continues.
The company achieved a net income attributable to the parent company of 0.025 billion yuan in the third quarter, a year-on-year decrease of 43.07%. The company released its third quarter report for the 24th year, with revenue/net income attributable to the parent company of 2.476/0.079 billion yuan for the first three quarters, down by -3.90%/-.
Sobute new materials (603916): Demand for water reducers is under pressure, bullish on the company's future performance recovery.
Q3 performance declined compared to the previous quarter, waiting for demand recovery to drive performance improvement, maintaining a "buy" rating for 2024 Q1-Q3. The company achieved revenue of 2.476 billion yuan, a 3.90% year-on-year decrease, and achieved a net income attributable to the parent company of 0.079 billion yuan.
Third Quarter Report 2024
Announcement on operating data for the third quarter of 2024
sobute new materials (603916): main product prices under pressure, sales steady against the trend.
sobute Q3 achieved revenue of 0.912 billion yuan (yoy-0.35%, qoq-7.33%), with a net profit attributable to shareholders of 25.3188 million yuan (yoy-43.07%, qoq-21.37%). 1-9