Shenzhen Fastprint Circuit Tech (002436) Q4 2024 earnings summary

Executive summary

• Revenue increased 8.53% year-over-year to ¥5.82 billion, but net profit attributable to shareholders dropped to -¥198 million, a 193.88% decrease year-over-year, mainly due to high investment in FCBGA substrate business and losses from subsidiaries.

• Gross margin declined by 7.45 percentage points to 15.87%, while operating cash flow improved by 199.53% to ¥376 million.

• The company maintained strategic focus on advanced electronic circuits and digital manufacturing, with continued investment in high-end packaging substrates and digital transformation.

Financial highlights

• Revenue: ¥5.82 billion, up 8.53% year-over-year.

• Net profit attributable to shareholders: -¥198 million, down 193.88% year-over-year.

• Operating cash flow: ¥376 million, up 199.53% year-over-year.

• Gross margin: 15.87%, down 7.45 percentage points year-over-year.

• Basic and diluted EPS: -¥0.12.

• Total assets: ¥13.67 billion, down 8.48% from prior year-end.

• Net assets attributable to shareholders: ¥4.94 billion, down 7.47% from prior year-end.

Outlook and guidance

• The PCB industry is expected to continue a slow recovery in 2025, with growth driven by AI, high-speed networks, and high-end packaging substrates.

• The company will deepen digital transformation, focus on high-end FCBGA substrate R&D and market expansion, and enhance customer satisfaction through zero-defect management.