On October 30, Guoxin Technology released its third quarter report. The announcement showed that the company's operating income in the first three quarters was 470 million yuan, a year-on-year increase of 16.58%. In Q3 2024, the company achieved revenue of 208 million yuan, a year-on-year increase of 34.61% and a month-on-month increase of 151.34%. Both the single-quarter revenue and the first three quarters revenue hit record highs.
For many years, Guoxin Technology has always regarded technological innovation as the core of its corporate development. Guoxin Technology invested a total of 81.271 million yuan in R&D expenses in the third quarter, a year-on-year increase of 20.47%, accounting for 39.04% of its operating income; before that, R&D expenses incurred 71.7368 million yuan in the first quarter and 72.3934 million yuan in the second quarter. The total R&D expenses from January to September were 225.4012 million yuan, a year-on-year increase of 26.97%. The continuous and stable capital investment demonstrates the company's determination to promote R&D and ensure that projects are completed on schedule.
In the short term, the net profit attributable to the parent company of Guoxin Technology is still under pressure, but the net cash flow from operating activities in the third quarter turned from negative to positive. From January to September 2024, the net cash flow generated by Guoxin Technology's operating activities was 36.863 million yuan. The main business performed strongly, the sales collection ability was greatly improved, and the financial situation was relatively stable.
Among the main business segments, automotive electronics has received the most attention from the market. Based on its own C*Core CPU core with complete intellectual property rights, Guoxin Technology has achieved the safety and independent control of application chips in automotive electronics and other fields, and has the competitive advantages of low cost and independent control; on the other hand, with continuous research and development in the past three years, automotive electronic chips have initially completed the serialization and high-end product layout. In the first three quarters of 2024, Guoxin Technology's automotive electronic chip business achieved revenue of more than 45 million yuan, and the revenue volume and shipment volume reached or approached the level of the whole year last year. It is reported that the series of products have been applied in many automobile manufacturers such as BYD, Chery, Geely, SAIC, SAIC-GM, SAIC-GM-Wuling, Changan, Great Wall, FAW, Dongfeng, BAIC, and Xiaopeng.
