Executive Summary
Bank of Gansu reported QQ3 2024 revenue of 718.62 million CNY and net income of 93.92 million CNY, delivering a net margin of 13.1% and an earnings per share (EPS) of 0.0062. Year-over-year (YoY) revenue and gross profit declined 6.25%, while quarter-over-quarter (QoQ) revenue grew 1.62%. Operating income contracted 3.17% YoY and plunged 51.01% QoQ to 96.44 million CNY, signaling a meaningful sequential slowdown in core operating activity despite a stable top line. The tax expense rose to 26.59 million CNY, yielding a pre-tax profit of 68.54 million CNY and an effective tax rate of approximately 38.8%. Net income declined YoY by 20.9% and QoQ by 52.4% even as the company generated substantial cash flow from operations.
Key Performance Indicators
QoQ: -51.01% | YoY:-3.17%
QoQ: -52.39% | YoY:-20.85%
QoQ: -52.67% | YoY:-21.52%
Key Insights
Revenue: 718.62m; YoY -6.25%; QoQ +1.62%
Gross Profit: 718.62m; YoY -6.25%; QoQ +1.62%
Operating Income: 96.44m; YoY -3.17%; QoQ -51.01%
Net Income: 93.92m; YoY -20.85%; QoQ -52.39%
EPS: 0.0062; YoY -21.52%; QoQ -52.67%
Gross Margin: 100.0% (gross profit equals revenue)
Operating Margin: 13.42%; Net Margin: 13.07%
Tax Expense: 26.59m; Pre-Tax Income: 68.54m; Effective Tax Rate: ~38.8%
Cash Flow (Operating): 5.94b; Free Cash Flow: 5.85b; Change in Working Capital: 5.20b; Other Non-Cash Items: 0.5...
Financial Highlights
Revenue: 718.62m; YoY -6.25%; QoQ +1.62%
Gross Profit: 718.62m; YoY -6.25%; QoQ +1.62%
Operating Income: 96.44m; YoY -3.17%; QoQ -51.01%
Net Income: 93.92m; YoY -20.85%; QoQ -52.39%
EPS: 0.0062; YoY -21.52%; QoQ -52.67%
Gross Margin: 100.0% (gross profit equals revenue)
Operating Margin: 13.42%; Net Margin: 13.07%
Tax Expense: 26.59m; Pre-Tax Income: 68.54m; Effective Tax Rate: ~38.8%
Cash Flow (Operating): 5.94b; Free Cash Flow: 5.85b; Change in Working Capital: 5.20b; Other Non-Cash Items: 0.54b
Dividends Paid: 0.0255b; Net Cash Used by Financing Activities: -6.081b; Net Change in Cash: -23.601b
Balance Sheet (CNY): Total Assets 414.708b; Total Liabilities 380.870b; Equity 33.794b; Cash & Equivalents 13.313b; No long-term debt reported; Heavy alignment to "Other Non-Current Assets" at 398.34165b; Current Ratio 1.866; ROE 0.278%; Asset Turnover 0.00173; P/B 0.0998; P/E 8.98; Dividend Yield ~0%
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
718.62M |
-6.25% |
1.62% |
| Gross Profit |
718.62M |
-6.25% |
1.62% |
| Operating Income |
96.44M |
-3.17% |
-51.01% |
| Net Income |
93.92M |
-20.85% |
-52.39% |
| EPS |
0.01 |
-21.52% |
-52.67% |
Key Financial Ratios
operatingProfitMargin
13.4%
operatingCashFlowPerShare
$0.39
freeCashFlowPerShare
$0.39
dividendPayoutRatio
0.03%
Management Commentary
No earnings call transcript data available in the provided dataset. If transcripts become available, the highlights would typically cover strategy execution (branch expansion, digitization), operating efficiency, interest rate and margin evolution, asset quality trends, and regulatory/regional policy impacts.
Forward Guidance
No explicit forward guidance was provided in the supplied data. Given the regional bank profile and macro backdrop in China, a cautious framework is warranted. Potential drivers for the remainder of 2024 include: (a) loan growth in corporate and retail segments, (b) stabilizing net interest income amid NIM trends, (c) continued emphasis on cost control and digital channel optimization, and (d) prudent asset quality management in rural/regional lending. Key risks to monitor include credit losses in regional borrowers, funding competition, regulatory shifts affecting capital and liquidity, and external macro weakness. Investors should watch quarterly progression in loan growth, fee-based income trends, and any disclosures around asset quality and loss provisions.