13 Nov 2024 Earnings Summary CMB International Global Markets | Equity Research | Company Update FIT Hon Teng (6088 HK) 3Q24 first take: Earnings in-line with solid margin recovery; Focus on GB200 products in 4Q24E FIT Hon Teng posted 3Q24 revenue/earnings growth of 1%/24% YoY, largely in-line with guidance and with 9M24 tracking 69%/55% of our FY24E estimates. We are encouraged by continued NPM recovery to 5.8% in 3Q24 (vs 1.1%/2.0% in 1Q/ 2Q24) backed by higher-margin AI server products, better expense co ...