Circuit Fabology Microelectronics Equipment Co (688630) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached RMB 449.43 million, up 41.04% year-over-year; net profit attributable to shareholders was RMB 100.69 million, up 38.56% year-over-year.

• Growth driven by high-end PCB market trends, product upgrades, and international expansion, especially in Southeast Asia.

• The company accelerated R&D, launched new products, and enhanced its global brand presence.

Financial highlights

• Operating income: RMB 449.43 million (+41.04% YoY); net profit: RMB 100.69 million (+38.56% YoY).

• Net cash flow from operating activities: -RMB 47.43 million (improved by 56.47% YoY).

• Basic and diluted EPS: RMB 0.77 (+28.33% YoY); ROE: 4.84% (down 1.84pp YoY).

• R&D investment: RMB 48.93 million, 10.89% of revenue.

Outlook and guidance

• The company expects continued growth in high-end PCB and semiconductor equipment demand, driven by AI, 5G, and new energy sectors.

• Ongoing expansion in Southeast Asia and further penetration into advanced packaging and new energy photovoltaic markets.