Yangzhou Yangjie Electronic Technology (300373) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached ¥2.87 billion, up 9.16% year-over-year, with net profit attributable to shareholders at ¥424.84 million, up 3.43% year-over-year.

• Gross margin improved, driven by increased overseas sales and cost optimization measures.

• The company maintained its leading position in power semiconductor devices, expanding in automotive electronics and clean energy sectors.

• Cash dividend of ¥2.60 per 10 shares proposed, totaling ¥140.61 million.

Financial highlights

• Operating income: ¥2.87 billion, up 9.16% year-over-year.

• Net profit attributable to shareholders: ¥424.84 million, up 3.43% year-over-year.

• Operating cash flow: ¥528.14 million, up 95.21% year-over-year.

• Basic and diluted EPS: ¥0.78, slightly down from ¥0.79 year-over-year.

• Gross margin for main products: 28.77%, nearly flat year-over-year.

Outlook and guidance

• Management expects continued growth in automotive electronics, clean energy, and AI server power sectors.

• Ongoing expansion of overseas manufacturing and R&D centers, with focus on SiC, GaN, and IGBT product lines.

• Emphasis on cost leadership, innovation, and internationalization to drive future performance.