浙江鼎力：3Q24 net profit +38% YoY, beat expectations; US remains the most promising market

30 Oct 2024 CMB International Global Markets | Equity Research | Company Update Zhejiang Dingli (603338 CH) 3Q24 net profit +38% YoY, beat expectations; US remains the most promising market Zhejiang Dingli's (Dingli) EBIT in 3Q24 grew 20% YoY to RMB672mn, driven by a 38% revenue growth (YoY) that offset the 4.8ppt YoY decrease in gross margin due mainly to an exceptional high base in 3Q23. Reported net profit grew 38% YoY to RMB636mn, helped by an increase in net finance income (FX gains). The results sugge ...