MCU products are in high demand, with Nasda's Q3 net profit expected to increase by 265.35%-443.57%

On October 11, Nasda disclosed its third-quarter 2021 performance forecast, predicting that the net profit attributable to shareholders of the listed company in the first three quarters of 2021 will be 630 million yuan to 730 million yuan, an increase of 51.8% to 75.9% over the same period last year; basic earnings per share will be 0.5857 yuan to 0.6786 yuan. It is expected that the net profit attributable to shareholders of the listed company in the third quarter of 2021 will be 205 million yuan to 305 million yuan, an increase of 265.35% to 443.57% over the same period last year; basic earnings per share will be 0.1905 yuan to 0.2835 yuan.

Nasda said the main reasons for the performance changes are as follows:

1. Printer business

Although the general consumables business was under pressure in the first three quarters of this year, the company's original printer and original consumables business showed a clear growth trend. Specifically:

As the epidemic situation eases and enterprise-level strategic partners provide bulk shipments, Lexmark's printer business performance has shown a steady upward trend. It is estimated that in the first three quarters, Lexmark's printer sales will increase by more than 20% year-on-year, and its net profit will increase by more than 600% year-on-year.

During the reporting period, PANTUM Electronics was entrusted to a listed company, and its printer business maintained rapid growth in both the domestic and foreign markets. It is estimated that PANTUM's operating income in the first three quarters will be approximately RMB 2.8 billion, a year-on-year increase of more than 100%; and its net profit will be approximately RMB 510 million, a year-on-year increase of more than 350%.

2. Integrated Circuit Business

In addition to maintaining stable growth in the chip business in the printer industry, the company has seized the industry development opportunities of domestic chip substitution in the chip business of non-printer industries (automotive, industrial/medical, new energy BMS chips, etc.), and continued to launch 32-bit industrial/automotive-grade MCU products, achieving batch supply to leading customers in various important fields, and the company's MCU product sales and revenue have achieved rapid growth. It is estimated that the net profit of Apex Microelectronics in the first three quarters will increase by more than 30% year-on-year.

At the same time, Nasda has effectively improved its performance during the reporting period by continuously improving financial management efficiency, achieving refined cost control management, and conducting foreign exchange derivatives such as forwards and options to hedge against exchange rate fluctuations. It is estimated that the non-recurring gains and losses brought by the derivative financial products purchased by the company will compensate for pre-tax profits by 90 million to 130 million yuan, which has effectively hedged the exchange losses caused by exchange rate fluctuations.