LUXSHARE-ICT(002475)2024-10-29 09:49Financial Performance - In the first three quarters of 2024, the company achieved a revenue of CNY 177.177 billion, representing a year-on-year growth of 13.67% [2][3] - The net profit attributable to shareholders was CNY 9.075 billion, an increase of 23.06% compared to the same period last year [2][3] - The company's gross profit margin for the first three quarters was 11.72%, remaining stable compared to 11.80% in the previous year [2][3] Business Segments - The consumer electronics segment remains the core revenue and profit driver, benefiting from a diversified product line and vertical integration advantages [1][2] - The automotive segment has established a solid foundation with a diversified product line, entering a rapid growth phase, especially following the acquisition of Leoni [2][3] - The communications segment has exceeded expectations, leveraging technological advantages to enter the supply pools of major global cloud vendors [2][3] Operational Efficiency - The operating expense ratio for sales, management, and R&D was 6.8%, up from 6.51% in the previous year, primarily due to increased market expansion and new product development costs [3] - The net profit margin improved to 5.52%, up from 5.31% year-on-year [3] - The company reported a net cash inflow from operating activities of CNY 6.675 billion, slightly down from CNY 7.222 billion in the previous year [3] Inventory and Capital Expenditure - As of the end of Q3 2024, the inventory was CNY 43.079 billion, an increase of 14.37% year-on-year, attributed to business growth and preparation for Q4 [3] - The capital expenditure for the first three quarters was CNY 8.537 billion, a decrease from CNY 9.063 billion in the previous year [3] Strategic Outlook - The company aims to maintain a high growth rate over the next 5-10 years, focusing on optimizing operational metrics such as ROE, Capex, and inventory cycles [2][3] - The management emphasized the importance of high-quality development over mere scale expansion, particularly in the automotive and communications sectors [5][6] - The company is actively exploring opportunities in AI-related products and robotics, viewing them as significant growth areas for the future [5][6]