OPT Machine Vision Tech (688686) Q3 2024 earnings summary

Executive summary

• 9M 2024 revenue fell 13.32% YoY to RMB 733.26m; net income attributable to shareholders declined 35.58% to RMB 131.94m.

• Q3 revenue decreased 6.96% YoY to RMB 210.96m; net income attributable to shareholders fell 40.32% to RMB 18.58m.

• Q3 financial statements were unaudited.

Financial highlights

• 9M adjusted net income, excluding non-recurring items, was RMB 121.38m, down 33.37% YoY; Q3 adjusted net income was RMB 24.27m, up 2.41%.

• 9M operating profit was RMB 133.23m versus RMB 220.31m in the prior-year period; net profit was RMB 131.94m versus RMB 204.80m.

• 9M basic and diluted EPS were RMB 1.0794, down 35.64% YoY.

• 9M operating cash flow was RMB 17.82m, down 86.79% YoY.

Segment performance

• Revenue declined amid lower overall sales; management attributed Q3 net income pressure to lower revenue and higher expenses for new-customer development and new-product development.