Jiangsu Yoke Technology (002409) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached ¥3.26 billion, up 40.21% year-over-year, with net profit attributable to shareholders at ¥519.54 million, up 52.19% year-over-year.

• Growth driven by strong performance in electronic materials and LNG insulation board businesses, with market share gains in semiconductor precursor materials and successful expansion in high-end photolithography products.

• Cash dividend of ¥3.2 per 10 shares proposed, totaling ¥152.3 million, representing 29.31% of H1 net profit.

Financial highlights

• Operating income: ¥3.26 billion, up 40.21% year-over-year; net profit: ¥519.54 million, up 52.19% year-over-year.

• Gross margin for electronic materials: 37.94%; for chemical materials: 26.89%.

• Basic and diluted EPS: ¥1.0916, up from ¥0.73 year-over-year.

• Net cash from operating activities: ¥18.6 million, down 91.24% year-over-year due to longer procurement cycles in LNG segment.

• Total assets at period end: ¥14.25 billion, up 12.96% from year-end 2023.

Outlook and guidance

• Company expects continued growth in electronic materials and LNG insulation board businesses, leveraging R&D and market expansion.

• Ongoing focus on product innovation, digital transformation, and intelligent manufacturing to enhance competitiveness.