CIG Shanghai (603083) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached RMB 1.00 billion, up 69.53% compared to the same quarter last year, driven by increased overseas demand and shipments.

• Net profit attributable to shareholders for the first nine months was RMB 151.74 million, up 26.15% year-over-year.

• Gross profit for the first nine months was RMB 595 million, up 12.46% year-over-year, with a gross margin of 21.54%.

Financial highlights

• Nine-month revenue totaled RMB 2.76 billion, up 18.60% year-over-year.

• Net profit attributable to shareholders for the nine months was RMB 151.74 million, up 26.15% year-over-year.

• Net cash flow from operating activities was RMB 405.19 million, up 650.79% year-over-year.

• Basic and diluted EPS for the nine months were RMB 0.57, up 26.67% year-over-year.

• Total assets at quarter-end were RMB 4.81 billion, up 1.57% from the previous year-end.

Outlook and guidance

• Benefiting from major customers' inventory replenishment and increased shipments in broadband and wireless access products, the company expects continued improvement in operational capabilities.