Montage Technology Co. (688008) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue reached RMB 1.42 billion, up 57.22% year-over-year, with net profit attributable to shareholders at RMB 473 million, up 22.94% year-over-year.

• Excluding share-based payment expenses, net profit attributable to shareholders was RMB 811 million, up 105.78% year-over-year and 10.96% sequentially, marking a new quarterly high.

• Interconnect chip product line sales were RMB 1.37 billion, up 61.59% year-over-year, with gross margin at 65.69%.

• Multiple new products launched, including CXL 3.1 MXC chips and advanced clock chips, targeting next-gen data centers and high-speed communication.

Financial highlights

• Q3 2025 revenue: RMB 1.42 billion (+57.22% YoY); net profit: RMB 473 million (+22.94% YoY).

• First nine months revenue: RMB 4.06 billion (+57.83% YoY); net profit: RMB 1.63 billion (+66.89% YoY).

• Interconnect chip sales for first nine months: RMB 3.83 billion (+61.21% YoY), gross margin 64.83% (+2.48ppt YoY).

• Operating cash flow for first nine months: RMB 1.60 billion (+26.97% YoY).

• Basic EPS for first nine months: RMB 1.44 (+65.52% YoY).

Outlook and guidance

• Strong order book for DDR5 second-generation MRCD/MDB chips, with over RMB 140 million in orders expected to be delivered in the next six months.