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China's Longcheer Q3 net profit rises on smartphone segment, tablet business growth

By Reuters News


Overview

  • China electronics manufacturer's Q3 revenue rose 22% yr/yr; net profit up 17%

  • Q3 net profit fell 17% yr/yr

  • Tablet and AIoT businesses saw strong Q3 revenue growth, up 72% and 41% respectively


Outlook

  • Company did not provide specific financial guidance for future quarters or the full year


Result Drivers

  • SMARTPHONE SEGMENT - Co said Q3 smartphone revenue rose 12% yr/yr, helped by a shift to higher-end models and expansion into new form factors

  • TABLET BUSINESS - Co attributed 72% yr/yr Q3 tablet revenue growth to increased investment in key supply chains and improved competitiveness

  • AIOT AND WEARABLES - Co said Q3 AIoT revenue rose 41% yr/yr, citing new orders for wearables and AI hardware projects from leading domestic customers


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

RMB RMB13.93

Q3 Net Income Attributable

RMB 178 mln


Reuters Recommended Reads

  • Oct 29 - China's Fibocom Wireless Q3 revenue rises on increased inventory stock-up

  • Oct 29 - China's BYD Electronic nine-month profit falls 69%

  • Oct 28 - Fudan Microelectronics Q3 revenue rises on higher downstream demand


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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