Nexchip Semiconductor (688249) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months reached RMB 6.78 billion, up 35.05% year-over-year, driven by industry recovery and increased sales volume.

• Net profit attributable to shareholders for the period was RMB 278.93 million, a 771.94% increase year-over-year.

• Gross margin improved due to higher capacity utilization and lower unit costs.

Financial highlights

• Q3 revenue was RMB 2.38 billion, up 16.12% compared to the same quarter last year.

• Q3 net profit attributable to shareholders was RMB 91.93 million, up 21.60% year-over-year.

• Basic and diluted EPS for the first nine months were RMB 0.14, up 684.97% year-over-year.

• Operating cash flow for the first nine months was RMB 1.97 billion.

• Total assets at quarter-end were RMB 54.09 billion, up 12.32% from year-end 2023.

Outlook and guidance

• Revenue growth attributed to industry recovery and increased demand.

• Management expects continued improvement in profitability as capacity utilization remains high.