Shenzhen Goodix Technology (603160) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue was RMB 966.60 million, down 17.71% compared to Q3 2023, but YTD revenue grew 0.82% year-over-year to RMB 3.22 billion.

• Net profit attributable to shareholders in Q3 was RMB 130.88 million, down 11.82% year-over-year; YTD net profit surged 3,499.3% to RMB 448.11 million.

• Excluding non-recurring items, Q3 net profit was RMB 125.37 million, down 13.19% year-over-year.

Financial highlights

• YTD basic EPS was RMB 0.98, up 3,166.67% year-over-year; Q3 basic EPS was RMB 0.29, down 9.38%.

• Operating cash flow for the first nine months was RMB 626.96 million, down 55.52% year-over-year.

• Total assets at Q3-end were RMB 9.89 billion, up 1.69% from year-end 2023; equity attributable to shareholders was RMB 8.43 billion, up 4.79%.

• Gross margin remained stable as cost control and R&D efficiency improved.

Key financial ratios and metrics

• Weighted average ROE for the first nine months was 5.44%, up 0.36 percentage points year-over-year.

• Net margin improved significantly YTD due to focus on high-potential R&D projects and cost management.