Ningbo Joyson Electronic (600699) Q3 2025 earnings summary

Executive summary

• Net profit attributable to shareholders for Q3 2025 reached RMB 412.6 million, up 35.4% year-over-year and 12.4% sequentially, with nine-month net profit at RMB 1.12 billion, up 19.0% year-over-year.

• Revenue for Q3 2025 was RMB 15.50 billion, up 10.25% year-over-year; nine-month revenue totaled RMB 45.84 billion, up 11.45% year-over-year.

• Gross margin improved by 2.7 percentage points year-over-year to 18.3% for the first nine months, with Q3 gross margin at 18.6%.

• New business orders in Q3 reached RMB 40.2 billion (lifetime value), with nine-month cumulative new orders at RMB 71.4 billion.

Financial highlights

• Operating profit for the first nine months was RMB 1.84 billion, up from RMB 1.78 billion year-over-year.

• Basic and diluted EPS for Q3 were RMB 0.30, up 36.36% year-over-year; nine-month EPS was RMB 0.81, up 20.90%.

• Net cash flow from operating activities for the first nine months was RMB 3.64 billion, up 19.32% year-over-year.

• Total assets at quarter-end were RMB 68.68 billion, up 7.03% from year-end 2024.

• Shareholders’ equity attributable to listed company shareholders was RMB 14.32 billion, up 5.64% from year-end 2024.

Outlook and guidance

• Management expects continued gross margin improvement through cost reduction, operational efficiency, and localization of key components.

• Focus remains on expanding new business orders, especially in smart driving and core automotive electronics.