Circuit Fabology Microelectronics Equipment Co (688630) H2 2024 earnings summary

Executive summary

• Revenue grew 15.09% year-over-year to RMB 953.94 million, driven by strong PCB business expansion and international market penetration.

• Net profit attributable to shareholders declined 10.38% year-over-year to RMB 160.70 million, mainly due to increased R&D and management expenses.

• Cash flow from operating activities increased 44.72% year-over-year, reflecting improved sales collections.

• The company accelerated high-end product development, expanded in Southeast Asia, and deepened cooperation with leading global clients.

Financial highlights

• Operating income: RMB 953.94 million, up 15.09% year-over-year.

• Net profit attributable to shareholders: RMB 160.70 million, down 10.38% year-over-year.

• Operating cash flow: RMB -71.55 million, a significant improvement from RMB -129.43 million last year.

• Total assets: RMB 2.79 billion, up 12.43% year-over-year.

• Net assets: RMB 2.06 billion, up 1.52% year-over-year.

• Basic EPS: RMB 1.23, down from RMB 1.43 last year.

Outlook and guidance

• Focus on high-end PCB and advanced packaging markets, with continued international expansion, especially in Southeast Asia and Japan.

• Plans to enhance R&D, digital transformation, and global talent acquisition to support long-term growth.

• 2025 strategy centers on technology breakthroughs, global market penetration, and operational efficiency.