Bestechnic (Shanghai) (SH:688608)2024-10-29 10:14Financial Performance - In Q3 2024, the company achieved a revenue of 942 million CNY, representing a year-on-year growth of 44.01%, marking the highest quarterly revenue since its establishment [3] - For the first three quarters of 2024, total revenue reached 2.473 billion CNY, an increase of 58.12% compared to the same period last year [3] - The net profit attributable to shareholders in Q3 was 141 million CNY, with a cumulative net profit of 289 million CNY for the first three quarters, reflecting a year-on-year growth of 145.47% [3] Market Segmentation - Revenue distribution by product category shows that Bluetooth audio products accounted for approximately 65%, while smartwatches and wristbands made up about 29% of total revenue [3] Profitability Metrics - The company's gross profit margin improved sequentially, with rates of 32.93%, 33.39%, and 34.68% for Q1, Q2, and Q3 respectively, indicating a continuous upward trend [3] - The company plans to distribute a cash dividend of 0.76 CNY per share, totaling approximately 90.94 million CNY, which is 31.46% of the net profit attributable to shareholders for the first three quarters [3] Research and Development - R&D expenses slightly decreased in Q3 compared to Q2, primarily due to fluctuations in engineering costs, while personnel costs remain stable [4] - The company continues to invest in R&D to maintain its industry leadership, with a focus on wireless ultra-low power computing SoC chips [4] Future Outlook - The company anticipates continued improvement in gross profit margins driven by cost reductions and product structure upgrades [4] - The development of edge AI is expected to create new demands for chips, particularly in wearable technology, necessitating enhancements in processing power and energy efficiency [4]