Amlogic (Shanghai) Co (688099) Q4 2024 earnings summary

Executive summary

• Achieved record annual revenue of RMB 59.26 billion, up 10.34% year-over-year, and net profit of RMB 8.21 billion, up 64.85% year-over-year.

• Multiple new products rapidly gained market share, with S, T, A, and W series all showing strong performance.

• Second and third quarter revenues reached historical highs; fourth quarter impacted by delayed operator orders.

Financial highlights

• Operating profit rose 70.52% year-over-year to RMB 854.89 million.

• Net profit attributable to shareholders increased 64.85% year-over-year to RMB 821.00 million.

• Basic EPS was RMB 1.96, up 63.33% year-over-year.

• Total assets grew 15.89% to RMB 7.37 billion; equity attributable to shareholders rose 17.30%.

• Gross margin improved from 35.37% in H1 to 37.77% in H2.

Outlook and guidance

• Expects continued operational improvement and year-over-year growth in Q1 and full year 2025, though with some uncertainty.

• Ongoing efficiency initiatives and new product launches to drive further gains.