NewEase: Net profit for the first three quarters was 11.372 billion yuan, a year-on-year increase of 79.74%

According to a report by Financial Associated Press, optical module manufacturer Xinyi Sheng (300502.SZ) announced that its revenue for the third quarter was 10.94 billion yuan, a year-on-year increase of 80.30%; net profit was 3.843 billion yuan, a year-on-year increase of 61.15%. Revenue for the first three quarters was 31.85 billion yuan, a year-on-year increase of 92.97%; net profit was 11.372 billion yuan, a year-on-year increase of 79.74%.

The announcement stated that the growth in performance was mainly due to the company's benefits from the development of artificial intelligence computing power investment during the reporting period, resulting in an increase in sales revenue compared to the same period last year. The report also listed that the company's net profit for the second quarter was 4.749 billion yuan, and based on this calculation, the net profit for the third quarter decreased by 19% compared to the previous quarter.