Shanghai Longcheer Technology (603341) Q3 2025 earnings summary

Executive summary

• Q3 revenue fell 9.62% YoY to RMB 11.42bn, while net income attributable to shareholders rose 64.46% to RMB 151.7m; improved project quality was cited as the main driver of quarterly profit growth.

• 9M revenue declined 10.28% YoY to RMB 31.33bn, while attributable net income increased 17.74% to RMB 507.3m.

Financial highlights

• Q3 total profit rose 94.53% YoY to RMB 170.3m; 9M total profit increased 20.57% to RMB 549.9m.

• Q3 adjusted net income, excluding non-recurring items, rose 56.18% YoY to RMB 92.4m; 9M adjusted net income fell 18.35% to RMB 270.8m.

• 9M net income was RMB 514.5m versus RMB 425.4m YoY; attributable net income was RMB 507.3m versus RMB 430.9m.

Segment performance

• Q3 smartphone revenue was RMB 7.68bn, down 21.96% YoY but up 5.50% QoQ; summer promotions and upgrade demand for entry-level phones in developing markets supported shipments.

• Q3 tablet revenue rose 23.30% YoY to RMB 1.09bn; investment in key supply chains is intended to strengthen product and system capabilities.

• Q3 AIoT revenue increased 47.17% YoY to RMB 2.28bn.

• Smart-glasses projects advanced, including a first smart-glasses case project entering mass production and a sports model launch; other domestic and overseas projects progressed through design and trial production.

• Two self-developed AI PCs launched; a first project with a leading global customer was secured, while automotive tablets and wireless charging products entered or continued mass production and supply.