Interpretation of Seres' 2024 third quarter financial report

From January to September 2024, SERES achieved operating income of 106.627 billion yuan, a year-on-year increase of 539.2%. The gross profit margin rose to 25.2%, compared with 6.3% in the same period last year, and the net profit margin (excluding non-recurring items) was 3.763 billion yuan, compared with a loss of 3.015 billion yuan in the same period last year. The period expenses totaled 20.355 billion yuan, accounting for approximately 19.5% of the total revenue, with a net increase of 15.676 billion yuan. The net cash flow generated from operating activities was 20.012 billion yuan, and cash and cash equivalents rose to 15.038 billion yuan. The revenue in Q3 2024 was 41.582 billion yuan, an increase of 8.1% month-on-month and 636.3% year-on-year.