Amlogic (Shanghai) Co (688099) investor relations material

Executive summary

• Q3 revenue rose 57.62% YoY and 9.93% QoQ to RMB2.74bn; net profit attributable to shareholders increased 239.35% YoY to RMB682.8m, setting a new quarterly high.

• 9M revenue advanced 40.70% YoY to RMB7.14bn and attributable net profit rose 85.38% to RMB1.29bn, driven chiefly by TV SoC growth.

Financial highlights

• Q3 total profit was RMB681.4m, up 200.62% YoY; 9M total profit was RMB1.28bn, up 81.05%.

• 9M gross margin was 41.92%, up 4.80 percentage points YoY; pricing adjustments, product mix and supply-chain management supported profitability.

• Adjusted for RMB106m in share-based payment expense, attributable net profit was RMB1.396bn for 9M and RMB716m for Q3; reported net-profit impact was RMB102m after tax effects.

• 9M R&D expense increased 24.63% YoY to RMB1.393bn; R&D was 19.53% of revenue, down 2.52 percentage points.

Outlook and guidance

• FY revenue is expected to reach the upper end of the previously forecast 25%–45% YoY growth range, with a target to exceed RMB10bn.

• TV SoC growth is expected to benefit from high-end products and strategic customers; set-top box demand may recover as memory-cost pressure eases and operator tenders proceed.

• Edge AI products are expected to support growth in 2027 as new products launch and adoption expands; monitor, connectivity and communications chips are progressing toward commercialization.