Moore Threads, MetaX and Enflame each pass 1.2 billion yuan in quarterly revenue for the first time
Third-quarter filings show Moore Threads at 1.552 billion yuan and its first positive adjusted profit, but the three Chinese GPU makers still post a combined adjusted loss of 634 million yuan, BigGo Finance reports.
Why it matters
China's domestic GPU makers are growing fast as export controls keep Nvidia's top chips out of the market, and this quarter all three of the so-called little dragons crossed the billion-yuan mark at once. Moore Threads' revenue rose 1,773.92 percent year on year and MetaX's 367.12 percent. Profit and cash flow lag: the three report a combined operating cash outflow of 6.664 billion yuan, and their combined revenue is still smaller than Cambricon's alone. Watch whether margins follow revenue in the fourth quarter.
Key facts
- Moore Threads Q3 revenue: 1.552 billion yuan, up 1,773.92%
- MetaX Q3 revenue: 1.5 billion yuan, up 367.12%
- Enflame Q3 revenue: about 1.212 billion yuan
- Moore Threads Q3 adjusted net profit: 20.07 million yuan, its first positive
- Combined adjusted net loss: 634 million yuan
- Combined operating cash outflow: 6.664 billion yuan