[Espressif Technology: Net profit in the first three quarters increased by 46.76% year-on-year] On October 23, Espressif Technology (688018.SH) announced that it achieved operating income of 2.37 billion yuan in the first three quarters, a year-on-year increase of 23.94%; net profit attributable to shareholders of listed companies was 553 million yuan, a year-on-year increase of 46.76%. Operating income in the third quarter was 889 million yuan, a year-on-year increase of 33.38%; net profit attributable to shareholders of listed companies was 219 million yuan, a year-on-year increase of 89.35%. The growth of net profit is mainly affected by three factors: first, the growth of operating income; second, the gross profit margin is rising steadily; third, the growth rate of expenses is controlled below the growth rate of operating income, the scale effect gradually appears, and the operating leverage effect is further released. Xiaocai Note: The company’s Q3 net profit was 219 million, and Q2 net profit was 199 million. Based on this calculation, Q3 net profit increased by 10% month-on-month.