Range Intelligent Computing Technology Group Company (300442) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 reached ¥2.84 billion, up 184.03% year-over-year; net income attributable to shareholders was ¥547 million, up 30.92% year-over-year.

• For the first nine months, revenue totaled ¥6.41 billion, up 139.11% year-over-year; net income attributable to shareholders was ¥1.51 billion, up 35.13%.

• Strong growth driven by expansion in AIDC and IDC businesses, with significant increases in both revenue and costs.

Financial highlights

• Gross margin for the nine months was approximately 30.7%.

• Basic and diluted EPS for Q3 were ¥0.32, up 33.33% year-over-year; for the nine months, ¥0.88, also up 33.33%.

• Operating cash flow for the nine months was ¥1.15 billion, down 36.92% year-over-year due to increased investment in high-performance servers.

• Total assets at quarter-end were ¥28.65 billion, up 22.90% from year-end 2023.

• Owner's equity attributable to shareholders was ¥9.40 billion, up 10.30% from year-end 2023.

Outlook and guidance

• Company continues to expand AIDC and IDC businesses, with ongoing investments in high-performance servers and infrastructure.

• Plans to further optimize financing structure and reduce costs through new debt instruments.