Yangzhou Yangjie Electronic Technology (300373) Q4 2024 earnings summary

Executive summary

• Revenue reached ¥6.03 billion in 2024, up 11.53% year-over-year, with net profit attributable to shareholders at ¥1.00 billion, up 8.50% year-over-year.

• Automotive electronics business revenue grew over 60% year-over-year, with strong momentum expected to continue.

• Overseas sales increased steadily as the Vietnam plant ramped up, supporting global expansion.

• The company maintained a leading position in power semiconductor devices, with significant advances in SiC, IGBT, and MOSFET product lines.

Financial highlights

• Operating income: ¥6,033,378,067 (+11.53% YoY); net profit attributable to shareholders: ¥1,002,451,864 (+8.50% YoY).

• Gross margin improved due to new product launches and cost reduction measures.

• Operating cash flow: ¥1,391,932,034 (+54.76% YoY).

• R&D expenses: ¥423,472,000, accounting for 7.02% of revenue.

• Basic and diluted EPS: ¥1.85 (+6.32% YoY).

• Total assets: ¥14,271,620,367 (+13.03% YoY); net assets: ¥8,764,548,513 (+6.28% YoY).

Outlook and guidance

• The company will continue to focus on automotive electronics, AI servers, clean energy, and international expansion.

• 2025 plans include further R&D investment in SiC, IGBT, and MOSFET, and expansion of overseas R&D and manufacturing capacity.

• Vietnam plant Phase II is expected to reach mass production in 2025, supporting global supply.