AAC Technologies Holdings Inc. (02018) said for the third quarter of 2019 (3Q 2019), the group's overall revenue improved as compared to the previous two quarters, as the optimization of business structure and product mix continued. 3Q 2019 revenue grew +3% YoY and +31% QoQ to RMB5.0 billion. 3Q 2019 gross profit margin was 29.6%, -7.5 percentage points (ppts) YoY and +4.6 ppts QoQ. Net profit amounted to RMB0.7 billion. Net profit margin was 13.9%, implying -6.1ppts YoY and +5.0 ppts QoQ.
The group's 9M 2019 revenue dropped by 5 % YoY to RMB12.58 billion. Gross profit margin for 9M 2019 dropped by 8.5 ppts YoY to 28.4%. Net profit for 9M 2019 dropped by 47% YoY to RMB1.47 billion.
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