Ningbo Joyson Electronic Q3 profit drops on weak vehicle sales, higher raw-material costs
Overview
China automotive electronics supplier's unaudited Q3 net income fell 47% yr/yr
Operating income for Q3 declined nearly 11% yr/yr
Company cites weak vehicle sales, higher raw material costs and FX fluctuations for declines
Outlook
Company says global light vehicle sales declined 4.3% year-on-year in first three quarters
Company notes domestic passenger vehicle sales in China fell 24.9% year-on-year in 2026
Company expects higher prices for electronic components and raw materials to impact costs
Result Drivers
WEAK VEHICLE SALES - Co attributed declines to weak global and China vehicle sales
HIGHER RAW MATERIAL COSTS - Co said increased prices for memory chips and other raw materials raised costs
FX FLUCTUATIONS - Co cited exchange rate fluctuations as impacting translated revenue
Company press release: Full Story
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Net Income Attributable | RMB 218.78 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the auto, truck & motorcycle parts peer group is "buy"
Wall Street's median 12-month price target for Ningbo Joyson Electronic Corp. is CNY28.50, about 32.4% above its October 27 closing price of CNY21.52
The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 17 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)