Nan Ya Printed Circuit Board (8046) Q2 2024 earnings summary

Executive summary

• Consolidated revenues for 2024 H1 were NTD 15.2 billion, with production in Taiwan, China, the USA, and Korea.

• Consolidated financial statements for H1 2024 were reviewed by independent auditors, confirming compliance with accounting standards.

• Revenues declined significantly year-over-year due to weak PC demand and ongoing inventory correction in telecom.

• Operational strategies focus on talent development, digital transformation, and sustainability.

Financial highlights

• 2024 H1 revenues dropped 33.0% year-over-year to NTD 15,221.2 million.

• Net loss for H1 2024 was NT$33.8 million, compared to a net profit of NT$3,897.8 million in H1 2023.

• Gross profit margin dropped to 1% from 25% year-over-year.

• Quarterly revenues in 2024 Q2 increased 14.4% from Q1, driven by AI PC and memory recovery.

• Operation profits in 2024 H1 decreased by NTD 5,610.3 million from 2023 H1.

Segment performance

• All major geographic segments (Domestic, American, Asian) saw significant revenue declines year-over-year.

• PC sales ratio remained flat in 2024 H1 due to limited recovery.

• Telecom sales ratio declined as customers delayed purchases, impacted by AI budget cannibalization.

• Consumer electronics demand improved, increasing its sales ratio in 2024 H1.

• AI and HPC product demand remained robust, increasing their revenue share.