Foxconn Industrial Internet (601138) H2 2024 earnings summary

Executive summary

• Revenue reached RMB 609.14 billion in 2024, up 27.88% year-over-year, with net profit attributable to shareholders at RMB 23.22 billion, a 10.34% increase year-over-year.

• Growth driven by surging global AI infrastructure demand and the company's vertically integrated AI and smart manufacturing capabilities.

Financial highlights

• Operating profit rose 12.44% year-over-year to RMB 25.94 billion.

• Net profit attributable to shareholders excluding non-recurring items increased 15.86% year-over-year to RMB 23.41 billion.

• Basic EPS was RMB 1.17, up from RMB 1.06 year-over-year.

• Total assets grew 9.03% to RMB 313.68 billion; shareholders' equity increased 8.92% to RMB 152.69 billion.

• Book value per share rose to RMB 7.69 from RMB 7.06 year-over-year.

Outlook and guidance

• AI sector demand expected to continue growing, with ongoing optimization of R&D and production capacity.

• Anticipates maintaining industry leadership and strong growth momentum through strategic resource allocation.