Zinwell Corporation (2485) Q2 2024 earnings summary

Executive summary

• Revenue for the first half of 2024 was NT$1,957.87 million, down from NT$3,013.07 million year-over-year, reflecting a significant sales decline.

• Net loss attributable to owners for the first half was NT$204.22 million, compared to a net loss of NT$13.76 million in the prior year period.

• Gross margin for the first half was 9%, a decrease from 7% in the prior year, despite lower sales.

Financial highlights

• Operating loss for the first half was NT$286.84 million, compared to NT$173.02 million loss year-over-year.

• Basic and diluted loss per share for the first half was NT$0.64, compared to NT$0.04 loss per share last year.

• Cash and cash equivalents at June 30, 2024, were NT$2,243.30 million, up from NT$1,262.66 million a year earlier.

• Inventory at June 30, 2024, was NT$1,531.42 million, down from NT$2,203.83 million year-over-year.

• Total assets at June 30, 2024, were NT$8,300.48 million, compared to NT$8,838.52 million a year ago.

Outlook and guidance

• No dividends were declared for 2023 due to the absence of distributable earnings.

• Management continues to monitor R&D project progress and will adjust development and licensing contracts as needed.