Yangzhou Yangjie Electronic Technology (300373) Q3 2024 earnings summary

Executive summary

• Q3 revenue reached ¥1.56 billion, up 10.06% year-over-year; net profit attributable to shareholders was ¥244 million, up 17.91% year-over-year.

• Year-to-date revenue totaled ¥4.42 billion, up 9.48% year-over-year; net profit attributable to shareholders was ¥669 million, up 8.28% year-over-year.

• Automotive electronics revenue surged 60% year-over-year in the first three quarters, with consumer and industrial electronics both up over 20%.

• Gross margin improved steadily due to cost control and product differentiation strategies.

Financial highlights

• Basic and diluted EPS for Q3 were ¥0.45, up 18.42% year-over-year; year-to-date EPS was ¥1.23, up 5.13%.

• Operating cash flow for the first nine months was ¥885 million, up 113.23% year-over-year.

• Total assets at quarter-end were ¥13.69 billion, up 8.38% from year-end 2023.

• Shareholders’ equity was ¥8.41 billion, up 2.04% from year-end 2023.

• Net asset return (ROE) for the period was 7.82%.

Outlook and guidance

• Semiconductor market demand is gradually improving, with automotive, consumer, and industrial sectors showing robust growth.

• The company expects continued growth opportunities from the global shift to electric and smart vehicles.