Shenzhen Fastprint Circuit Tech (002436) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached ¥2.88 billion, up 12.29% year-over-year; net profit attributable to shareholders was ¥19.50 million, up 7.99% year-over-year.

• Operating cash flow increased 110.35% year-over-year to ¥233 million.

• Gross margin declined by 8.62 percentage points to 16.56% due to increased costs and segment mix.

• The company maintained strategic focus on PCB and semiconductor businesses, with significant R&D investment and digital transformation.

Financial highlights

• Revenue: ¥2.88 billion (+12.29% YoY); net profit: ¥19.50 million (+7.99% YoY).

• Net profit excluding non-recurring items: ¥28.76 million (+353.13% YoY).

• Operating cash flow: ¥233 million (+110.35% YoY).

• Total assets: ¥14.64 billion (-1.98% from year-end 2023); net assets: ¥5.20 billion (-2.48%).

• Basic and diluted EPS: ¥0.01; ROE: 0.37%.

Outlook and guidance

• The company will continue to invest in high-end FCBGA substrate technology and expand overseas customers.

• Digital transformation and cost control remain priorities to improve efficiency and profitability.

• PCB industry expected to grow at a 5.4% CAGR through 2028, with high-end segments outpacing the market.