Cambricon Technologies (688256) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue reached RMB 120.54 million, up 284.59% compared to the same quarter last year.

• Net loss attributable to shareholders was RMB -194.38 million for Q3 and RMB -724.49 million for the first nine months.

• R&D investment for Q3 was RMB 211.57 million, with a year-to-date total of RMB 659.05 million.

Financial highlights

• Year-to-date revenue was RMB 185.31 million, up 27.09% year-over-year.

• Basic and diluted EPS for Q3 was -0.47; for the first nine months, -1.74.

• Net cash flow from operating activities for the first nine months was RMB -1.81 billion.

• Gross margin and operating income not explicitly disclosed.

Outlook and guidance

• Revenue growth attributed to ongoing market expansion and strategic focus on higher-margin projects.

• Company continues to adjust R&D strategy, suspending lower-margin projects.