Shenzhen Kinwong Electronic (603228) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue reached RMB 3.21 billion, up 15.06% year-over-year; net profit attributable to shareholders was RMB 247.89 million, down 16.38% year-over-year.

• For the first nine months, revenue totaled RMB 9.08 billion, up 17.11% year-over-year; net profit attributable to shareholders was RMB 904.42 million, up 29.14% year-over-year.

• Basic and diluted EPS for Q3 were RMB 0.28, down 20% year-over-year; nine-month EPS was RMB 1.05, up 26.51%.

Financial highlights

• Gross margin for the first nine months was approximately 23.7%, with operating profit of RMB 1.03 billion.

• Operating cash flow for the first nine months was RMB 1.88 billion, up 19.07% year-over-year.

• Total assets at quarter-end were RMB 18.71 billion, up 8.58% from year-end 2023.

• Shareholders’ equity increased 25.46% to RMB 11.01 billion compared to year-end 2023.

Outlook and guidance

• No explicit forward-looking guidance provided, but strong year-to-date growth in revenue and profit signals positive momentum.