GalaxyCore (688728) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached ¥3.64 billion, up 30.33% year-over-year, driven by consumer market recovery and increased shipments of high-pixel chips.

• Net profit attributable to shareholders was ¥29.76 million, down 61.59% year-over-year, mainly due to continued R&D investment and exchange losses from USD fluctuations.

• Operating cash flow surged to ¥813.52 million, up 858.11% year-over-year, reflecting improved collections and reduced procurement outflows.

• The company transitioned from a Fabless to a Fab-Lite model, increasing asset investment and production integration.

Financial highlights

• EBITDA for H1 2025 was ¥698.88 million, up 1.5% year-over-year, indicating improved core operating profitability.

• Gross margin and R&D investment ratio remained stable, with R&D at 13.36% of revenue.

• Basic and diluted EPS were both ¥0.01, down 66.67% year-over-year.

• Total assets grew 4.99% to ¥23.54 billion; net assets were stable at ¥7.77 billion.

Outlook and guidance

• The global CMOS image sensor market is expected to maintain high growth, with emerging applications in AI, automotive, and wearables supporting future demand.

• The company will continue to focus on high-pixel product innovation, expand market share, and enhance core competitiveness through R&D and supply chain integration.