Luxshare's September-quarter net profit was CNY 5.2 billion, lower than guidance. Gross margin shrank 73 basis points, with automotive contracting by over 2 percentage points as Leoni sold more low-margin cabling. The midpoint of December-quarter net profit guidance is CNY 6.4 billion, up 27%.
Strong production capabilities and a track record within Apple’s supply chain will enable Luxshare to win more projects at its largest customer.
Luxshare typically enters Apple’s product supply chain as a second- or third-sourced player; hence, it may encounter intense price competition that could pressure margins.
Metric | 002475 | TEL | APH |
|---|---|---|---|
Price/Earnings (Normalized) | 22.65 | 19.59 | 31.91 |
Price/Book Value | 3.27 | 4.61 | 11.48 |
Price/Sales | 0.96 | 3.22 | 6.21 |
Price/Cash Flow | 51.28 | 12.89 | 26.35 |
Metric | 002475 | TEL | APH |
|---|---|---|---|
Quick Ratio | 0.67 | 1.03 | 1.30 |
Current Ratio | 1.22 | 1.73 | 1.94 |
Interest Coverage | 10.86 | 32.13 | 12.15 |
Metric | 002475 | TEL | APH |
|---|---|---|---|
Return on Assets (Normalized) | 4.43% | 13.13% | 16.29% |
Return on Equity (Normalized) | 16.02% | 25.81% | 44.32% |
Return on Invested Capital (Normalized) | 6.63% | 17.99% | 22.90% |
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