JG Environmental Technology Co (6723) H1 2024 earnings summary

Executive summary

• Revenue for the first half of 2024 was NT$269.6 million, down 49% year-over-year from NT$530.5 million in the same period of 2023.

• Net income for the first half of 2024 was NT$1.2 million, a sharp decline from NT$54.6 million year-over-year.

• Basic and diluted EPS for the period were NT$0.05, compared to NT$2.42 and NT$2.39, respectively, in the prior year.

Financial highlights

• Gross profit margin decreased to 14% from 21% year-over-year.

• Operating loss of NT$1.8 million, compared to operating profit of NT$68.5 million year-over-year.

• Cash and cash equivalents at June 30, 2024, were NT$103.4 million, up from NT$54.7 million a year earlier.

• Total assets at June 30, 2024, were NT$774.7 million, down from NT$1,107.9 million year-over-year.

• Operating cash flow for the first half of 2024 was NT$18.5 million, compared to an outflow of NT$91.9 million year-over-year.

Outlook and guidance

• No explicit forward-looking guidance provided, but significant revenue and profit declines highlight a challenging outlook.