GigaDevice Semiconductor (603986) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached RMB 2.04 billion, up 42.83% year-over-year, with nine-month revenue at RMB 5.65 billion, up 28.56% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 315 million, up 222.55% year-over-year; nine-month net profit was RMB 832 million, up 91.87% year-over-year.

• Strong recovery in consumer, networking, industrial, storage, and computing markets drove significant growth.

Financial highlights

• Gross margin improved due to product mix optimization and higher sales.

• Operating cash flow for Q3 was RMB 608 million, up 80.65% year-over-year; nine-month operating cash flow was RMB 1.86 billion, up 89.24%.

• Basic EPS for Q3 was RMB 0.48, up 242.86% year-over-year; nine-month basic EPS was RMB 1.26, up 93.85%.

• Total assets at quarter-end were RMB 18.16 billion, up 10.37% from year-end 2023.

• Shareholders’ equity reached RMB 15.99 billion, up 5.22% from year-end 2023.

Key financial ratios and metrics

• Weighted average ROE for the nine months was 5.34%, up 2.53 percentage points year-over-year.

• Net profit margin for the nine months improved significantly due to higher revenue and margin expansion.