Zhaoyi Innovation's net profit in the first three quarters was 11.066 billion yuan, a year-on-year increase of 921.55%

The storage chip and microcontroller manufacturer Zhaoyi Innovation (603986.SH) announced that the revenue for the first three quarters was 20.297 billion yuan, a year-on-year increase of 197.11%; net profit was 11.066 billion yuan, a year-on-year increase of 921.55%.

In the third quarter, revenue was 8.732 billion yuan, a year-on-year increase of 225.65%; net profit was 4.209 billion yuan, a year-on-year increase of 728.93%. The company's net profit in the second quarter was 5.396 billion yuan, and the net profit in the third quarter decreased by 21% compared to the previous quarter.

The company stated that during the reporting period, the supply of the storage chip industry was tight, with both volume and price of storage chip products rising, and the storage business continued to improve; multiple product lines such as MCU continued to make efforts, achieving good growth in product shipment scale, and overall operating performance increased significantly.