埃斯顿3Q24业绩：收入提速、盈利能力修复

Investment Rating - The report does not explicitly state an investment rating for the company or industry Core Insights - Estun Automation reported a total operating income of 3.367 billion yuan for the first three quarters of 2024, representing a year-on-year increase of 4.38% [1] - The net loss attributable to the parent company was 667 million yuan, a year-on-year decrease of 147.55% [1] - In Q3 alone, the revenue was 1.198 billion yuan, showing a year-on-year increase of 21.66% and a quarter-on-quarter increase of 2.75% [1][2] - The net profit attributable to the parent company in Q3 was 6.716 million yuan, a year-on-year decrease of 84.33% [1][2] - The sales revenue of industrial robotics and intelligent manufacturing systems increased by 19.33% year-on-year in Q3, while sales revenue of automation core components and motion control systems increased by 30.57% year-on-year [2][3] - The gross margin for the first three quarters of 2024 was 29.67%, a year-on-year decrease of 3.45 percentage points, but Q3 gross margin improved to 30.27%, recovering 3.77 percentage points quarter-on-quarter [2][3] - Operating expenses decreased by approximately 26 million yuan quarter-on-quarter in Q3, indicating effective control over sales and R&D expenses [2][3] Summary by Sections Financial Performance - For the first three quarters of 2024, Estun achieved operating income of 3.367 billion yuan, with a net loss of 667 million yuan [1] - Q3 revenue was 1.198 billion yuan, with a slight profit of 6.716 million yuan [1][2] Business Segments - Significant growth in industrial robotics and intelligent manufacturing systems, with a 19.33% increase in Q3 [2] - Automation core components and motion control systems saw a 30.57% increase in sales revenue [2] Margin and Expenses - Gross margin for Q3 was 30.27%, showing recovery from previous quarters [2][3] - Operating expenses were effectively controlled, with a reduction of 26 million yuan quarter-on-quarter [2][3]