The Flash memory design company’s integrated circuits and services contributed 99.97% of its revenue.
GigaDevice released its Q3 earnings report for the period ended September 30, 2021, on October 27.
· Revenue was CNY 2.69 billion, a 77.39% year-on-year increase.
· Net profit was CNY 862 million, a 178.47% year-on-year increase.
· Debt ratio was 13.88%.
· Gross margin reached 44.32%.
· Financial expense was CNY 99 million.
The Flash memory design firm also released its mid-year report on August 27.
· Operating income was CNY 3.64 billion, a 119.62% increase year-on-year.
· Net profit was CNY 786 million, a 116.32% increase.
The first three-quarter financial reports are as below:
· Operating income was CNY 6.33 billion, a 99.45% increase year-on-year.
· Net profit was CNY 1.65 billion, a 144% increase.
The growth driver is the strong market demand for chip products and the increase in products price.
The first 4Gb DDR4 product mass-produced by GigaDevice in June 2021 has passed the certification of many mainstream consumer application fields and is widely used in set-top boxes, televisions, surveillance, network communications, smart home appliances and related products.