Shaanxi Lighte Optoelectronics Material (688150) Q3 2024 earnings summary

Executive summary

• Q3 revenue rose 95.53% YoY to RMB 110.7m; net income increased 204.03% to RMB 37.3m, supported by higher OLED terminal-material sales.

• 9M revenue grew 79.91% YoY to RMB 356.2m and net income increased 131.70% to RMB 129.8m.

Financial highlights

• Q3 adjusted net income, excluding non-recurring items, was RMB 33.4m, up 350.31% YoY; 9M adjusted net income was RMB 115.8m, up 187.89%.

• 9M operating profit was RMB 147.7m versus RMB 57.8m YoY; net income was RMB 129.8m versus RMB 56.0m.

• 9M operating cash flow increased 255.13% YoY to RMB 143.3m, attributed to higher sales and customer collections.

Segment performance

• OLED terminal-material revenue increased substantially, with growth attributed to rising downstream OLED market demand.