Guangdong Kennede Electronics MFG Co., Ltd. (stock code: 002723, hereinafter referred to as "Kennede Electronics") released its financial report for the third quarter of 2024.
The report shows that Q3 revenue was 392 million yuan, up 9.49% year on year, but down 7.18% quarter on quarter. Net loss attributable to shareholders was 43.33 million yuan, down 128.53% year on year and 2,288.38% quarter on quarter.
For the first three quarters of 2024, the Company reported total revenue of 1.186 billion yuan, down 3.54% year on year, with a net loss attributable to shareholders of approximately 39.38 million yuan, down 450.26% year on year.
Regarding the primary reasons for the decline in net profit attributable to shareholders during the reporting period, the report cites the impact of fluctuations in the U.S. dollar exchange rate and price promotions on traditional home appliance and e-cigarette products, leading to a decrease in product gross margins.
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