高盛：中际旭创-受外汇损失和 EML 供应紧张影响，三季度净利润未达预期；需求强劲，订单增长超过收入；买入

23 October 2024 | 7:11AM CST Innolight (300308.SZ): 3Q NP miss on FX loss & EML supply tightness; Demand strength intact with order growth outpacing revenue; Buy Innolight's 3Q net profit at Rmb1.39bn (+3% QoQ and +104% YoY) was 12% below GSe Rmb1.59bn. Drivers of the miss include: 1) FX loss of c.Rmb80mn; and 2) EML (laser components in transceivers) supply tightness led to slower shipment growth. On the earnings call and our follow-up call with the management, the company maintained a strong demand outloo ...