BOE Technology (.SZ)_ 3Q24 First Take_ GM flat QoQ; NP Missed Partly on Inventory Write-off and Forex
2024-11-03 17:16
Flash | 30 Oct 2024 10:24:48 ET │ 11 pages BOE Technology (000725.SZ) 3Q24 First Take: GM flat QoQ; NP Missed Partly on Inventory Write-off and Forex CITI'S TAKE BOE released 3Q24 results on 10 Oct. 3Q24 rev came in at Rmb50.3bn (+6% QoQ and +9% YoY), in-line with CitiE but missed BBGe by 8%. GM flattish QoQ at 16.7%, behind CitiE by 1.0pt. OP came in at Rmb2.6bn (-1% QoQ) with OPM of 5.1% (-0.4pts QoQ), missed CitiE OP by 19% and OPM by 1.2pt. Given higher-than-expected assets write-off of Rmb1.8bn and for ...