【华泰证券】3Q盈利改善，净利润同比增速恢复.pdf

3Q高增长，动力足全年无忧

3Q业绩彰显龙头能力，持续成长可期

–3Q results confirmed ODM back on track; poised for further growth

3Q miss; new models, cost cut as key in FY25

3Q符合预期，4Q业绩受Meta拖累

2Q超预期，3Q及全年指引相对保守

Expecting inline 3Q revenue growth with upside coming from bottom line

2Q资产质量优化，静待3Q旺季反弹

–Mixed 3Q results

前3Q净利润同比增长39%，合同负债逐季增加预示下游高景气