Victory Giant Technology (HuiZhou) (300476) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached ¥4.86 billion, up 32.29% year-over-year, with net profit attributable to shareholders at ¥459 million, a 33.23% increase compared to the same period last year.

• Growth was driven by the consolidation of acquired entities, strong performance from MFS Group, and expansion in AI, new energy vehicles, and data center markets.

• The company maintained its industry leadership in PCB manufacturing, with significant investments in R&D and digital transformation.

Financial highlights

• Operating income rose to ¥4.86 billion, up 32.29% year-over-year; net profit attributable to shareholders increased 33.23% to ¥459 million.

• Cash flow from operating activities was ¥654 million, up 40.43% year-over-year.

• Basic and diluted EPS were both ¥0.53, up 32.5% year-over-year.

• Gross margin and net margin improved, with total assets at ¥17.15 billion and net assets attributable to shareholders at ¥7.95 billion.

• Non-recurring items had a net negative impact of ¥2.48 million on profit.

Outlook and guidance

• The company expects continued growth in high-end PCB demand, especially in AI, automotive electronics, and data centers.

• Strategic focus remains on innovation, digitalization, and global expansion, with ongoing investments in R&D and capacity.