Electronics manufacturer Luxshare Precision Industry Co. Ltd. (2475.HK; 002475.SZ) announced on Tuesday it expects to report its net profit for the first nine months of this year to reach 13.25 billion yuan ($1.97 billion) to 14.40 billion yuan, up 15% to 25% year-on-year. Its adjusted net profit is expected to come in at 10.37 billion yuan to 11.72 billion yuan, up 8.6% to 22.8%.
The company said it continued to deepen work with customers across its three core businesses of consumer electronics, communications and data centers, and automotive electronics during the period. Its consumer electronics business benefited from innovation in AI-enabled devices and stronger ODM/JDM capabilities, while communications and data centers were boosted by accelerating AI infrastructure development. Its automotive electronics segment, meanwhile, benefited from the company’s global expansion and integration synergies with Leoni.
Luxshare Precision reported revenue of 174.50 billion yuan in the first half of this year, up 40.16% year-on-year. Its net profit rose 18.04% to 7.84 billion yuan, while its adjusted net profit increased 6.47% to 5.96 billion yuan. The company said it recorded about 1.99 billion yuan in foreign-exchange losses during the six-month period, although its gross margin still rose 0.17 percentage points year-on-year to 11.78%, mainly driven by growth in higher-margin businesses including communications, data centers and automotive electronics.
The company’s Hong Kong shares opened higher on Tuesday and were trading at HK$58.9 by the midday break, up 0.08%. The stock has fallen about 7% since its July listing.
By Lee Shih Ta
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