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Songcheng Performance Development (300144): Core show marginal warming, focus on climbing progress
This report summary: Revenue slightly below expectations, profit in line with expectations, core sessions in October picking up, future focus on the recovery and progress of the travel agency industry. Investment highlights: Investment recommendation: Considering new projects are still in the early stages, 2024 is revised downwards.
Songcheng Performance Development (300144): Under the pressure of high base numbers, Xi'an Foshan Qian Gu Qing performed well.
In the first three quarters of 2024, the performance showed steady growth. In Q3, due to the high base in the same period last year, this year's revenue declined slightly, with a slight decrease in the gross margin of new projects, and profits were affected by marketing and research and development costs. The new project in Foshan and the Xi'an Everlasting Love project performed exceptionally well in the performing arts sector.
Songcheng Performance Development (300144): The performance in the third quarter meets expectations, with outstanding performance during the National Day.
Event: Songcheng Performance Development released the third quarterly report of 2024, with total operating income of 2.013 billion yuan in the first three quarters of 2024, a year-on-year increase of 24.46%, achieving a net income attributable to the parent of 1.008 billion yuan, a year-on-year increase of 28.04%. Point
Earnings Beat: Songcheng Performance Development Co.,Ltd Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models
Songcheng Performance Development (300144): Cultivating projects reduce the customer unit price while maintaining growth under a high number of performances.
Investment Highlights: The company announced its third quarter report for 2024, with performance meeting market expectations. In the first three quarters of 2024, the company achieved revenue of 2.013 billion yuan, a year-on-year increase of 24.46%. Achieved a net income attributable to equity holders of 10.0 billion yuan.
Songcheng Performance Development (300144): Performance slightly decreased year-on-year under high base, new projects showing impressive progress.
Event: In the first three quarters of 2024, the company achieved revenue of 2.013 billion yuan, +24.46% year-on-year, net income attributable to the parent company of 1.008 billion yuan, +28.04%, non-net income attributable to the parent company of 0.994 billion yuan, +28.05%. 20
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