Recently, Zhongying Electronics announced the third quarterly report: revenue from January to September was 303 million yuan, up 10.65% year-on-year; net profit attributable to listed companies was 32.93 million yuan, up 35.6% year-on-year. In the third quarter, revenue was 97.68 million yuan, a year-on-year increase of 0.91%, a decrease of 17.8% from the previous month; net profit was 12.11 million, down 0.97% year-on-year and down 12.0% from the previous month.
The increase in gross profit margin is the main factor affecting profitability. The fastest growth in revenue in the first three quarters was mainly in energy-saving chips: energy-saving chips revenue from January to September was 109 million, a year-on-year increase of 34.3%, and revenue accounted for 35.87%. From January to September, the comprehensive gross profit margin was 39.6%, up 3.47 percentage points from 36.1% in the same period of last year. On a quarterly basis, Q1-3 gross profit margin was 38.7%, 39.8% and 40.2%, respectively, and the gross profit margin increased steadily. Our analysis is mainly due to the increase in the scale of revenue and the improvement of the internal structure of energy-saving application products.
The company's AMOLED chip has achieved mass production sales to Hehui Optoelectronics, and the second new product has also obtained customer's purchase orders. Hehui Optoelectronics has built China's first 4.5-generation low-temperature polysilicon (LTPS) AMOLED mass production line with the most complete equipment and the most advanced technology. The company and Hehui Optoelectronics Co., Ltd. broke the monopoly of the AMOLED industry by foreign manufacturers. The first AMOLED mass production industry chain in China. The lithium battery management chip entered the final stage of the first-line brand product verification.
Sales of lithium battery management chips slowed slightly in the third quarter, mainly due to weaker application demand. At present, the company's product line layout in the field of lithium battery management chips is more complete than before, and cooperation with first-line brand manufacturers has entered the final stage of product verification.
Electric main control chips and home appliances have grown steadily. From January to September, home appliance chips revenue was 165 million, a year-on-year increase of 6.3%, accounting for 54.4% of the company's sales. Home appliance control chip products are widely supplied to domestic first-line brand manufacturers, and gradually replace imported chips from overseas competitors.