Ingenic Semiconductor (300223) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue was ¥1.09 billion, down 8.7% year-over-year; net profit attributable to shareholders was ¥107 million, down 26.89% year-over-year.

• For the first nine months, revenue reached ¥3.20 billion, down 6.39% year-over-year; net profit attributable to shareholders was ¥304 million, down 17.37% year-over-year.

• Weak demand in consumer markets and continued sluggishness in automotive, industrial, and medical sectors impacted results; analog and connectivity chips saw growth.

Financial highlights

• Gross margin and detailed cost breakdowns not disclosed, but operating profit for the nine months was ¥303 million.

• Basic EPS for Q3 was ¥0.2220, down 26.90% year-over-year; for nine months, ¥0.6321, down 17.37%.

• Net cash from operating activities for nine months was ¥206 million, down 48.79% year-over-year.

• Total assets at quarter-end were ¥12.82 billion, up 0.60% from year-end; equity attributable to shareholders was ¥11.90 billion, up 0.96%.

• Non-recurring items negatively impacted profit by ¥28.47 million for the nine months.

Outlook and guidance

• No explicit forward guidance, but management notes that overall demand has not yet recovered, with industry still in an adjustment phase.