Investment Rating - The report assigns a "Buy" rating for the company, indicating a positive outlook compared to the market index [8]. Core Insights - The company reported a revenue of 173.29 million yuan for the first nine months of 2024, a decrease of 30.05% year-on-year, with a net loss attributable to shareholders of 4.59 million yuan, down 119.12% year-on-year [1]. - In Q3 2024, the company achieved a revenue of 75.48 million yuan, representing a significant increase of 245.22% year-on-year, and turned a profit with a net profit of 1.09 million yuan [4][5]. - The company specializes in next-generation data center cooling technologies, focusing on immersion cooling solutions that enhance chip performance by 10-30% and reduce the cost of ownership by 10-25% [2]. Financial Performance Summary - For the first nine months of 2024, the gross margin was 22.15%, down 15.37 percentage points year-on-year, while the net margin was -2.65%, down 12.35 percentage points year-on-year [1]. - The Q3 2024 gross margin improved to 24.24%, up 10.09 percentage points year-on-year, with a net margin of 1.44%, a significant increase of 109.96 percentage points compared to the previous year [5]. - The company’s total assets were reported at 1,050.06 million yuan, with net assets of 649.08 million yuan, and a total share capital of 200 million shares [1].
曙光数创：Q3单季度归母净利润实现盈利，收入增长