Luxshare Precision Industry (002475) Q3 2024 earnings summary

Executive summary

• Revenue for the first three quarters reached ¥177.18 billion, up 13.67% year-over-year; net profit attributable to shareholders was ¥9.07 billion, up 23.06% year-over-year.

• Growth driven by strong performance in consumer electronics, communications, data centers, and automotive sectors, with AI applications accelerating product iteration.

• Excluding non-recurring items, net profit attributable to shareholders rose 15.43% year-over-year.

• The company maintained steady business development across major segments, despite cost losses at a subsidiary due to customer product issues.

Financial highlights

• Q3 revenue: ¥73.58 billion, up 27.07% compared to the same quarter last year; Q3 net profit: ¥3.68 billion, up 21.88%.

• Basic EPS for Q3: ¥0.51, up 21.43% year-over-year; for the nine-month period: ¥1.26, up 22.33%.

• Operating cash flow for Q3: ¥6.68 billion, down 7.57% year-over-year.

• Total assets at period end: ¥215.08 billion, up 32.77% from the previous year-end.

• Net assets attributable to shareholders: ¥64.65 billion, up 14.82% from the previous year-end.

Outlook and guidance

• AI-driven demand in consumer electronics and data centers, and global acceptance of Chinese automotive components, are expected to support continued growth.

• The company will focus on R&D and manufacturing capabilities in core component and system-level products, aiming for innovation and process improvement.