Everdisplay Optronics Shanghai (688538) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached RMB 1,302.74 million, up 100.02% year-over-year, with YTD revenue at RMB 3,697.31 million, up 82.61% year-over-year.

• Net loss attributable to shareholders for Q3 was RMB -483.64 million, a reduction in loss by RMB 610.50 million year-over-year.

• Gross margin improved significantly due to cost reduction measures and higher capacity utilization.

Financial highlights

• Q3 net loss (excluding non-recurring items) was RMB -511.97 million, narrowing by RMB 600.99 million year-over-year.

• Basic and diluted EPS for Q3 was -0.03 RMB; YTD EPS was -0.13 RMB.

• Operating cash flow for the first nine months was RMB -120.22 million, an improvement of RMB 291.80 million year-over-year.

• Total assets at Q3-end were RMB 28,107.19 million; shareholders’ equity was RMB 10,799.85 million.

Outlook and guidance

• Shipments in key product areas, especially tablets and notebooks, continued to grow, with stable output and increased revenue share.

• The company is expanding into automotive, aviation, and desktop display markets, maintaining a leading position in large-size AMOLED displays.