SUPCON Technology (688777) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 reached RMB 6.34 billion, up 11.58% year-over-year.

• Net profit attributable to shareholders was RMB 716.72 million, a 3.36% increase year-over-year.

• Excluding non-recurring items and GDR forex losses, adjusted net profit grew 32.02% year-over-year.

Financial highlights

• Q3 revenue was RMB 2.08 billion, up 2.3% compared to the same quarter last year.

• Q3 net profit attributable to shareholders was RMB 200.09 million, up 9.52% year-over-year.

• Basic and diluted EPS for the first nine months were both RMB 0.91, up from RMB 0.90 year-over-year.

• Gross margin and operating profit improved, with operating profit reaching RMB 762.50 million for the period.

• R&D investment totaled RMB 673.88 million, accounting for 10.63% of revenue.

Outlook and guidance

• Management continues to focus on innovation and R&D, as reflected in increased R&D spending.

• No explicit forward-looking financial guidance was provided.