Phoenix Pioneer technology (6920) H2 2024 earnings summary

Executive summary

• Revenue for the year ended December 31, 2024 (113年度) was NT$1,201,400 thousand, up 59% year-over-year from NT$757,951 thousand.

• Net loss for the year was NT$485,789 thousand, an improvement from a net loss of NT$653,274 thousand in the prior year.

• Gross margin remained negative, with a gross loss of NT$381,059 thousand, but improved from a gross loss of NT$490,424 thousand year-over-year.

Financial highlights

• Operating loss was NT$526,568 thousand, compared to NT$642,231 thousand last year.

• Basic and diluted loss per share were both NT$1.63, compared to NT$2.20 last year.

• Cash and cash equivalents at year-end were NT$173,843 thousand, down from NT$402,864 thousand.

• Total assets decreased to NT$3,367,730 thousand from NT$3,887,704 thousand.

• Total liabilities were NT$1,974,710 thousand, with equity at NT$1,393,020 thousand.

Outlook and guidance

• The company approved a capital reduction of NT$1,312,040 thousand to offset accumulated losses, with the process ongoing.

• A new share issuance of 40,000 thousand shares at NT$16 per share, totaling NT$400,000 thousand, is in progress.