AAC Technologies's CFO Guo Dan: Expects 15% Growth in Revenue of Main Business while the Growth of the Group May Exceeds 30% After PSS Consolidation
AAC Technologies (AACAY) reported impressive H1 2024 results, with revenue reaching RMB 11.25 billion, up 22.0% YoY. The company's gross profit margin improved to 21.5%, a 7.4 percentage point increase YoY. Net profit surged by 257.3% to RMB 537 million. CFO Guo Dan expects the group's revenue to grow over 30% in 2024, with main business revenue increasing by 15% and PSS contributing about RMB 3 billion. The company anticipates benefiting from AI smartphone upgrades, with potential growth across multiple product lines. AAC's acoustics business is projected to exceed RMB 10 billion in revenue, while optics and other segments show promising growth and margin improvements.
AAC Technologies (AACAY) ha riportato risultati impressionanti per il primo semestre del 2024, con un fatturato che ha raggiunto 11,25 miliardi di RMB, in aumento del 22,0% su base annua. Il margine di profitto lordo della società è migliorato al 21,5%, con un incremento di 7,4 punti percentuali rispetto all'anno precedente. L'utile netto è aumentato di 257,3%, raggiungendo i 537 milioni di RMB. Il CFO Guo Dan prevede che il fatturato del gruppo crescerà di oltre 30% nel 2024, con un aumento del fatturato principale del 15% e un contributo del PSS di circa 3 miliardi di RMB. L'azienda si aspetta di beneficiare degli aggiornamenti degli smartphone AI, con potenziali crescenti in diverse linee di prodotto. Si prevede che il settore acustico di AAC supererà 10 miliardi di RMB di fatturato, mentre i segmenti ottici e altri mostrano una crescita promettente e miglioramenti nei margini.
AAC Technologies (AACAY) informó sobre resultados impresionantes para el primer semestre de 2024, con ingresos que alcanzaron 11.25 mil millones de RMB, un aumento del 22.0% interanual. El margen de beneficio bruto de la empresa mejoró al 21.5%, un incremento de 7.4 puntos porcentuales en comparación con el año anterior. La utilidad neta se disparó un 257.3% hasta 537 millones de RMB. El CFO Guo Dan espera que los ingresos del grupo crezcan más de un 30% en 2024, con un aumento de ingresos del negocio principal del 15% y una contribución del PSS de aproximadamente 3 mil millones de RMB. La empresa anticipa beneficiarse de las actualizaciones de smartphones con IA, con un crecimiento potencial en múltiples líneas de productos. Se proyecta que el negocio de acústica de AAC superará 10 mil millones de RMB en ingresos, mientras que los segmentos de óptica y otros muestran un crecimiento prometedor y mejoras en los márgenes.
AAC Technologies (AACAY)는 2024년 상반기 인상적인 실적을 보고했습니다. 수익은 112억 5천만 RMB에 달해 전년 대비 22.0% 증가했습니다. 회사의 총 이익률은 21.5%로 개선되었으며, 이는 전년 대비 7.4%포인트 증가한 수치입니다. 순익은 257.3% 증가하여 5억 3천7백만 RMB에 도달했습니다. CFO Guo Dan은 그룹의 수익이 2024년에 30% 이상 성장할 것으로 예상하며, 주 수익이 15% 증가하고 PSS가 약 30억 RMB 기여할 것으로 보입니다. 회사는 AI 스마트폰 업그레이드로부터 혜택을 받을 것으로 예상되며, 여러 제품 라인에서 성장 가능성이 있습니다. AAC의 음향 비즈니스는 100억 RMB 이상의 수익을 초과할 것으로 예상되며, 광학 및 기타 부문은 유망한 성장과 마진 개선을 보여주고 있습니다.
AAC Technologies (AACAY) a rapporté des résultats impressionnants pour le premier semestre 2024, avec un chiffre d'affaires atteignant 11,25 milliards de RMB, en hausse de 22,0 % par rapport à l'année précédente. La marge brute de l'entreprise a amélioré à 21,5%, soit une hausse de 7,4 points de pourcentage d'une année sur l'autre. Le bénéfice net a explosé de 257,3% pour atteindre 537 millions de RMB. Le CFO Guo Dan s'attend à ce que le chiffre d'affaires du groupe augmente de plus de 30% en 2024, avec un chiffre d'affaires principal en hausse de 15 % et une contribution du PSS d'environ 3 milliards de RMB. L'entreprise prévoit de bénéficier des mises à niveau des smartphones AI, avec un potentiel de croissance à travers plusieurs gammes de produits. On prévoit que l'activité acoustique d'AAC dépassera 10 milliards de RMB de chiffre d'affaires, tandis que les segments optiques et autres affichent une croissance prometteuse et des améliorations de marge.
AAC Technologies (AACAY) berichtete über beeindruckende Ergebnisse für das erste Halbjahr 2024, mit einem Umsatz von 11,25 Milliarden RMB, ein Anstieg von 22,0% im Vergleich zum Vorjahr. Die Bruttomarge des Unternehmens verbesserte sich auf 21,5%, was einem Anstieg von 7,4 Prozentpunkten im Jahresvergleich entspricht. Der Nettogewinn stieg um 257,3% auf 537 Millionen RMB. CFO Guo Dan erwartet, dass der Umsatz der Gruppe im Jahr 2024 um über 30% wachsen wird, wobei der Umsatz des Hauptgeschäfts um 15% steigen und das PSS etwa 3 Milliarden RMB beitragen wird. Das Unternehmen rechnet mit Vorteilen durch AI-Smartphone-Upgrades, mit Wachstumspotenzial in mehreren Produktlinien. AACs Akustikgeschäft wird voraussichtlich über 10 Milliarden RMB Umsatz erreichen, während die Bereiche Optik und andere vielversprechendes Wachstum und Margenverbesserungen zeigen.
- Revenue increased by 22.0% YoY to RMB 11.25 billion in H1 2024
- Gross profit margin improved by 7.4 percentage points to 21.5%
- Net profit surged by 257.3% YoY to RMB 537 million
- Expected group revenue growth of over 30% for 2024
- Acoustics business projected to exceed RMB 10 billion in revenue
- Optics business gross profit expected to turn positive in Q4
- Heat dissipation segment achieved 30% gross profit margin
- None.
According to the Interim Report, in the first half of 2024, AAC Technologies achieved a revenue of
During the interview, Ms. Guo Dan, the CFO of AAC Technologies stated that in the first half of 2024, all business segments of AAC Technologies made positive progress, significantly enhancing profitability and maintaining a continuous growth in gross profit margin. More importantly, the performance of the interim results indicated the potential growth value brought by the Company's strategic transformation. It is expected that the operating revenue of the Group (excluding PSS) for the year will increase by
Benefitting from the surge in AI smartphone upgrades in the next 1-2 years
At the interim results presentation, AI smartphones took center stage as a key topic. Guo Dan believes that AI smartphones are still in the early stages, with software-driven enhancements propelling hardware upgrades. There has already been a trend of increased shipments and overall improvement in ASP for product categories such as acoustics, mechanics and microphones. Looking ahead, with the further development of AI smartphones and functionalities, hardware component is expected to continue to advance in the coming years.
"AI smartphones have great potential for innovation. In the next 1-2 years, we will see some changes, with an acceleration of changes in the 3-5 year period, bringing us many opportunities and driving multiple product lines," Guo Dan stated. She cited examples such as new trends in hardware like foldable and ultra-thin form factors, and the Company's unique innovative speakers, and Combo (two-in-one product, which integrates a speaker and an actuator) can better meet market demands.
Moreover, AI smartphones have higher power consumption and require better heat dissipation solutions. AAC Technologies has industry-leading advantages from material sourcing to lean manufacturing processes and simulation design. Additionally, as the demand for human-machine interaction in AI smartphones increases, requiring more precise voice commands and functionalities, this will further drive the Company's MEMS microphone upgrades, boosting prices and profit margins.
The Group's overall gross profit margin is expected to increase to
Guo Dan revealed that with the seasonal impact of more new product releases in the second half of the year, performance is expected to be stronger than the first half. It is anticipated that the full-year business performance (excluding PSS) will achieve a growth of over
"Since the second half of last year, the entire industry has entered a healthy trend of increasing specifications and configurations. The Company has seen improvements in ASP and overall profit margins in areas such as acoustics, optics, and mechanics," Guo Dan stated. Particularly in the automotive sector, there will be a steady growth trend in the medium to long term. "It can be said that AAC is now a company with multiple growth drivers and solutions across various platforms. As we forecast the overall growth for the next few years, we maintain a positive outlook."
The acoustics business is expected to exceed a scale of RMB 10 billion and build a comprehensive user experience across all scenarios
Guo Dan mentioned that the gross profit margin of AAC Technologies' acoustics business has resumed to a healthy growth trajectory. The gross profit margin in the first half of the year was
"At the interim results presentation, the Company's management also discussed how AAC Technologies, originally a micro-acoustic supplier for consumer electronics, has further established industry standards for a comprehensive user experience across all scenarios through the acquisition of PSS. Acoustic solutions will be a key driver for the next phase of growth in the acoustics business. In terms of scale, the acoustics business is the Company's first to exceed a revenue scale of over
Definite progress in the WLG projects of multiple key customers
In terms of the optics business, Guo Dan believes that the optics market has transitioned from a relatively competitive state a few years ago to a period of healthy development.
The gross profit margin for optics in the first half of the year was approximately
Guo Dan disclosed that AAC Technologies' gross profit for optics will further improve in the second half of the year. "It is foreseeable that the profit for a single quarter will turn positive, with a high probability of occurring in the fourth quarter. Overall profitability will see significant improvement compared to last year, with continued steady growth in the future."
"Especially with G+P glass-plastic hybrid lenses and WLG lens products, there have been definite advancements in major projects with several key customers," Guo Dan stated. The industry now widely acknowledges that G+P glass-plastic hybrid lenses are indeed a superior solution. The Company's unique WLG technology finds applications in areas such as smartphones and automotive, creating value across multiple domains. "Next year, G+P glass-plastic lenses and WLG single lenses will gradually become one of the most crucial technologies and value supports in the entire optics business, with many deliveries to customers aligning with our expectations for WLG technology investments."
The interim results performance reflects the Company's long-term growth value
"Looking at the first half of this year, the electromagnetic actuators and haptic business have already reached a gross profit margin of approximately
"At the interim results presentation, the Company's management also mentioned that in the heat dissipation segment, AAC Technologies achieved a business scale of
"Additionally, the overall gross profit for the sensor and semiconductor business will continue to increase in the second half of the year," Guo Dan mentioned. Over the next two to three years, driven by factors such as the value enhancement brought by AI smartphones, the advantages brought by the Company's resource platform, and the increase in self-developed product penetration rates, the sensor and semiconductor business is expected to experience rapid development.
Guo Dan concluded, "At the interim results presentation, the management also pointed out that this performance has shown investors that AAC has achieved revenue growth, as well as gross and net profit improvements through strategic transformation at the current stage. However, more importantly, the interim results implied the long-term growth value of each major business line, and we encourage everyone to focus on the certainty of sustained long-term growth."
CONTACT: Bunny Lee, bunny.lee@pordahavas.com
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SOURCE AAC Technologies
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