Victory Giant Technology (HuiZhou) (300476) H2 2024 earnings summary

Executive summary

• Achieved revenue of ¥10.73 billion in 2024, up 35.31% year-over-year; net profit attributable to shareholders was ¥1.15 billion, up 71.96% year-over-year.

• Growth driven by AI, data center, and high-end PCB product expansion, as well as successful integration of MFS Group and acquisition of Thai manufacturing base.

• R&D investment reached ¥449.8 million, supporting 67 development projects in AI, automotive electronics, and high-end server fields.

• Maintained strong global market position, ranking 13th among global PCB suppliers and 4th among mainland China PCB manufacturers.

Financial highlights

• Revenue: ¥10.73 billion, up 35.31% year-over-year; net profit: ¥1.15 billion, up 71.96%.

• Gross margin improved, with operating cash flow at ¥1.36 billion, up 6.14% year-over-year.

• Basic and diluted EPS: ¥1.34, up 71.79% year-over-year.

• Total assets: ¥19.18 billion, up 10.31% from previous year-end.

Outlook and guidance

• Focus on AI, automotive, and high-end server PCB markets, aiming for continued double-digit growth.

• Plans to further globalize manufacturing with new investments in Vietnam and Thailand.

• 2025 strategy emphasizes product innovation, digital factory upgrades, and cost control.