Shanghai Fudan Microelectronics Group Company (1385) Q3 2024 earnings summary

Executive summary

• Revenue for January–September 2024 was RMB2,684 million, down 1.99% year-over-year; net profit attributable to shareholders was RMB427 million, down 34.29% year-over-year.

• Q3 2024 revenue was RMB890 million, down 5.55% year-over-year; net profit attributable to shareholders was RMB79 million, down 60.60% year-over-year.

• Gross profit margin declined to 55.05% for the nine months and 52.15% for Q3, reflecting price competition and product mix changes.

Financial highlights

• Basic earnings per share for the nine months was RMB0.52, down 35% year-over-year; Q3 EPS was RMB0.10, down 60%.

• Net cash flows from operating activities for the nine months were RMB115 million.

• Total assets as of September 30, 2024, were RMB8,842 million, up 5.12% from year-end 2023.

• Total equity attributable to shareholders was RMB5,708 million, up 7.63% from year-end 2023.

Outlook and guidance

• The company is processing the issuance of convertible bonds, with timing and outcome subject to shareholder approval and regulatory uncertainty.