Dinglong Reports Strong Q3 Growth Amid Business Transformation

Dinglong Reports Strong Q3 Growth Amid Business Transformation

Dinglong recently released its financial report for the first three quarters of fiscal year 2024, demonstrating substantial growth in revenue and gross profit.

For the first three quarters, Dinglong achieved revenue of CN￥2.426 billion (US$339.64 million), reflecting an increase of 29.54% compared to the same period last year. Gross profit attributable to shareholders reached CN￥376 million (US$52.64 million), up by 113.51%. In the third quarter alone, revenue and gross profit amounted to CN￥907 million (US$126.98 million) and CN￥158 million (US$22.12 million), respectively. These figures fell short of Dinglong’s earlier forecast, which anticipated a near doubling of net profit.

The printing and copying consumable business (excluding chips) was a major contributor, generating CN￥1.322 billion (US$185.08 million) over the past nine months, demonstrating stable growth. The semiconductor business profited CN￥1.086 billion (US$152.06 million) during the first three quarters, marking a significant increase of 93%. Other related products, including CMP polishing pads, CMP polishing agents, and cleansing agents, saw robust surges of nearly 100% to 200%.

Earlier this month, Dinglong announced that its semiconductor and chip business has become the company’s primary income source, accounting for 32.12% of total income and 53.44% of total gross profit in 2023, with continued growth expected in 2024. Consequently, Dinglong has changed its corporate category from “chemicals and raw materials manufacturer” to “computing, communication, and other electronic device manufacturer,” indicating a successful transformation to the semiconductor business since 2012.

Notably, Dinglong has increased its investment in research and development during this reporting period, allocating CN￥336 million (US$46.96 million), which constitutes 13.85% of its total income, reflecting the company’s commitment to innovation.

Related:

• Dinglong Forecasts Significant Profit Growth for Q3 2024
• Dinglong Records Robust Growth in First Half of 2024
• Dinglong Forecasts Significant Profit Increase for H1 2024
• Dinglong Announces 2023 Performance Forecast
• Dinglong Rewards Customer at Gala Dinner Event

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