Fortior Technology (Shenzhen) Co Ltd (688279) Q2 2024 earnings summary

Executive summary

• H1 revenue rose 57.78% YoY as downstream markets recovered, product competitiveness improved and sales expanded across application areas.

• Operating focus remained on BLDC motor-control chips and system-level solutions, with continued R&D and market expansion in automotive, industrial control and overseas markets.

Financial highlights

• Revenue was RMB 282,324,431.52, up 57.78% YoY; net income attributable to shareholders was RMB 122,020,726.25, up 46.68%.

• Adjusted net income, excluding non-recurring items, was RMB 104,015,517.71, up 94.14% YoY.

• Operating cash flow was RMB 113,592,946.96, up 581.59% YoY, mainly reflecting higher cash collections as sales grew.

Outlook and guidance

• R&D and product development remain directed toward automotive-grade chips, industrial control, servo applications and other emerging motor-control markets.

• Two funded R&D and industrialization projects were rescheduled to reach planned usable status in Dec 2026; investment scope and funding remained unchanged.