Circuit Fabology Microelectronics Equipment Co (688630) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached RMB 268.47 million, up 30.87% year-over-year, with YTD revenue at RMB 717.91 million, up 37.05% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 54.38 million, up 18.85% year-over-year; YTD net profit was RMB 155.08 million, up 30.94% year-over-year.

• Excluding non-recurring items, Q3 net profit rose 65.18% year-over-year, and YTD net profit rose 51.75% year-over-year.

Financial highlights

• Basic and diluted EPS for Q3 were RMB 0.41, up 13.89% year-over-year; YTD EPS was RMB 1.18, up 32.58% year-over-year.

• Gross margin improved due to increased sales and higher contribution from mid-to-high-end products.

• Operating cash flow for the first nine months was negative RMB 41.48 million, a 71.86% improvement year-over-year.

• Total assets at quarter-end were RMB 2.70 billion, up 8.79% from year-end 2023.

• Shareholders’ equity reached RMB 2.06 billion, up 1.25% from year-end 2023.

Outlook and guidance

• Continued market expansion and product investment are expected to drive further revenue and profit growth.

• Focus remains on mid-to-high-end product segments and operational efficiency.