Financial news app Zhitong reported that Shanghai Fudan (01385) announced its performance for the first three quarters of 2024. From January to September 2024, the group achieved an operating revenue of approximately 2.684 billion yuan, a decrease of about 1.99% compared to the same period last year; the net income attributable to shareholders of the listed company was approximately 0.427 billion yuan, a decrease of about 34.29% compared to the same period last year; the net income attributable to shareholders of the listed company after deducting non-recurring gains and losses was approximately 0.385 billion yuan, a decrease of about 36.26% compared to the same period last year.

Revenue from each product line: approximately 0.576 billion yuan for security and identification chips, approximately 0.837 billion yuan for non-volatile memory, approximately 0.31 billion yuan for smart meter chips, approximately 0.876 billion yuan for FPGAs and other products, approximately 0.085 billion yuan for testing services (after offsetting). The comprehensive gross margin of products from January to September decreased from 64.58% in the same period last year to 55.05%.

From January to September 2024, the group faced intense competition in the existing market for each product line. To consolidate and expand market share, the group adjusted the selling prices of certain products, leading to an increase in sales volume. Due to the impact of lower product selling prices and structural adjustments, the group's comprehensive gross margin decreased and revenue decreased slightly year-on-year in the reporting period. At the same time, the group continued product and technology iteration, strengthened research and development based on diversified suppliers, resulting in an increase in research and development expenses compared to the same period last year. Therefore, the net income attributable to the listed company decreased during the reporting period.