Wus Printed Circuit (Kunshan) Co. (002463) Q3 2026 earnings summary

Executive summary

• Q3 revenue reached RMB9.536bn, up 90.02% YoY; net income attributable to shareholders was RMB2.699bn, up 160.77% YoY.

• 9M revenue rose 71.88% YoY to RMB23.225bn and net income rose 106.87% to RMB5.622bn, supported by demand in high-speed switches, AI servers and HPC, plus product-mix optimization.

• The Thai subsidiary moved from capacity ramp-up to scaled operations and turned profitable in 9M 2026.

Financial highlights

• Q3 adjusted net income, excluding non-recurring items, was RMB2.680bn, up 159.50% YoY; 9M adjusted net income was RMB5.474bn, up 104.53%.

• 9M operating profit was RMB6.383bn versus RMB3.112bn in the prior-year period.

• Total assets were RMB43.257bn at quarter-end, up 53.10% from year-end; equity attributable to shareholders was RMB20.531bn, up 35.85%.

Key financial ratios and metrics

• Q3 basic EPS was RMB1.4023 and diluted EPS was RMB1.3880; 9M basic EPS was RMB2.9214 and diluted EPS was RMB2.8918.

• Weighted average ROE was 14.10% for Q3, up 6.33 percentage points YoY; 9M ROE was 31.24%, up 10.17 percentage points.

• 9M operating cash flow was RMB2.704bn, down 6.61% YoY.