Lens Technology (300433) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached ¥28.87 billion, up 43.07% year-over-year; net profit attributable to shareholders was ¥861 million, up 55.38% year-over-year.

• Core business focused on smartphones and PCs, leveraging vertical integration in glass, metal, and modules.

• Industry tailwinds from AI-driven device upgrades and strong growth in new energy vehicles supported performance.

• Organizational restructuring and increased R&D investment enhanced efficiency and innovation.

Financial highlights

• Operating income: ¥28.87 billion, up 43.07% year-over-year.

• Net profit attributable to shareholders: ¥861 million, up 55.38% year-over-year.

• Net profit excluding non-recurring items: ¥663 million, up 46.21% year-over-year.

• Basic and diluted EPS: ¥0.17, up 54.55% year-over-year.

• Operating cash flow: ¥3.37 billion, down 22.80% year-over-year.

• Gross margin for smartphone/PC: 13.75%; for smart auto/cockpit: 9.70%.

Outlook and guidance

• Company prepared for traditional peak season in H2, continuing innovation and vertical integration strategies.

• Ongoing focus on AI, smart devices, and automotive segments to drive future growth.