Joyson Electronic (.SS)_ 3Q24 Earnings Missed; Auto Safety New Order Bookings Slowed Down
Audi·2024-10-31 02:40
A c t i o n | 28 Oct 2024 16:33:07 ET │ 13 pages Joyson Electronic (600699.SS) 3Q24 Earnings Missed; Auto Safety New Order Bookings Slowed Down CITI'S TAKE Joyson reported muted 3Q24 results with revenue sliding -2% YoY (+2% QoQ) to Rmb14,056mn and net profit edging up 1% YoY (-8% QoQ) to Rmb305mn, missing Citi and consensus expectations. The weak prints are primarily attributable to 1) softer sales volume trends for both segments due to the broad global auto demand slowdown, and 2) sharp increase in effect ...