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Zhuhai Bojay Electronics (002975) investor relations material
Zhuhai Bojay Electronics Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue was ¥765.9m, up 72.35% YoY; attributable net income was ¥177.9m, up 108.02% YoY.
YTD revenue reached ¥1,887.6m, up 69.03% YoY; attributable net income was ¥348.9m, up 230.04% YoY.
YTD new orders were ~¥2.8bn, up nearly 88% YoY, supporting a more favorable order mix and subsequent revenue conversion.
Financial highlights
YTD adjusted for non-recurring items, attributable net income was ¥342.8m, up 475.39% YoY; reported attributable net income was ¥348.9m.
YTD consolidated net income was ¥358.0m versus ¥115.3m YoY; operating profit was ¥399.6m versus ¥122.1m.
YTD operating cash flow was ¥135.8m, up 52.04% YoY; cash and cash equivalents ended at ¥597.5m versus ¥398.1m at year-end.
YTD operating costs rose with scale: R&D expense was ¥205.5m, up 33.10% YoY; finance expense was ¥32.1m, up 374.41%, mainly due to FX movements.
Outlook and guidance
YTD new orders of ~¥2.8bn, up nearly 88% YoY, provide a basis for continued performance conversion; AI-computing orders grew nearly 280% and MLCC equipment orders nearly 160%.
InP substrate orders totaled ~200,000 wafers; ~40,000 overseas-customer units were pending dual-use export review and are to be delivered in line with customer schedules and contract terms.
- Revenue and net income rose, but operating cash flow plunged to -RMB212.7m.002975
H1 2024 - Revenue rebounded 36.17%, but margins narrowed and operating cash flow turned negative.002975
H2 2024 - Revenue rebounded, but operating cash flow turned sharply negative.002975
Q1 2024 - Q3 sales grew, but losses and a sharp operating cash outflow weighed on results.002975
Q3 2024 - Revenue grew 17.48%, led by AI, MLCC and automotive demand; cash flow rebounded.002975
H1 2025 - Revenue fell 25.18% as Q1 swung to a net loss, despite a cash-flow rebound.002975
Q1 2025 - AI and automotive demand drove 49% revenue growth, with 2026 focused on scaling new platforms.002975
H2 2025 - AI and MLCC orders powered sharp H1 growth as liquid cooling and semiconductor expansion advanced.002975
H1 2026 - Q3 revenue surged; YTD profit included significant gains from an equity disposal. 002975
Q3 2025
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