On October 28, Ingenic released its Q3 2026 report. Q3 revenue was RMB 3.145 billion, up 164.85% year-over-year; net profit attributable to shareholders was RMB 1.419 billion, up 2,595.49% YoY; non-GAAP net profit was RMB 1.429 billion, up 3,436.84% YoY; basic EPS was RMB 2.8605, with weighted average ROE of 9.26%.
For the first three quarters, revenue was RMB 7.102 billion, up 106.66%; net profit was RMB 2.616 billion, up 922.95%; non-GAAP net profit was RMB 2.595 billion, up 1,188.99%; operating cash flow was RMB 1.896 billion, up 271.53%; weighted average ROE was 18.57%. Non-recurring items totaled RMB 21.3072 million.
Growth was driven by the memory chip upcycle. DRAM demand was strong with tight supply driving price increases, Flash demand kept growing in AI servers, SRAM demand improved, and memory product line sales rose sharply. Computing chips benefited from demand growth and memory material shortages, with revenue rising YoY and QoQ; analog chips grew steadily. By product line for the first three quarters: memory revenue RMB 4.916 billion, up 130.73%, gross margin 56.53%; computing revenue RMB 1.752 billion, up 92.89%, gross margin 64.04%; analog revenue RMB 418 million, up 11.70%, gross margin 49.28%.
On the balance sheet, total assets were RMB 19.25 billion, up 41.82% from year-end; equity attributable to shareholders was RMB 17.484 billion, up 40.45%. Cash rose mainly from H-share listing proceeds, and receivables grew with sales. Ingenic listed on the Hong Kong Stock Exchange main board on August 25, 2026, and completed an A-share buyback of 1.0183 million shares, or 0.20% of total shares, for equity incentives or employee stock ownership plans.
ICgoodFind Summary: Ingenic's Q3 net profit up 2,595% came as memory revenue grew 130.73% at a 56.53% gross margin, with DRAM price hikes and Flash demand in AI servers driving profit elasticity. Computing chips at a 64.04% gross margin exceed memory—both memory and computing are benefiting from this upcycle.
