Hubei Dinglong doubles profits, semiconductor boom
June 25, 2024
Hubei Dinglong Holdings predicts a 110%-130% profit surge in 2024, driven by semiconductor sales growth.
Hubei Dinglong Holdings Co., Ltd. (Stock Code: 300054) has revealed a remarkable increase in its financial performance for the first half of 2024. The company is a leader in the print supplies and optoelectronic semiconductor sectors. The company’s half-year financial forecast indicates substantial revenue and net profit growth.
The company anticipates its net profit attributable to shareholders will fall between ¥201.33 million (€26.3 million/ $29.3 million) and ¥220.50 million (€28.8 million/ $32.1 million) for the period from 1 January to 30 June 2024. This represents a significant increase of 110% to 130% compared to ¥95.87 million (€12.5 million/ $14.0 million) during the same period last year.
Additionally, the net profit after deducting non-recurring gains and losses is expected to range from ¥181.33 million (€23.7 million/ $26.4 million) to ¥200.50 million (€26.2 million/ $29.2 million), reflecting a year-on-year increase of 166% to 194% from ¥68.13 million (€8.9 million/ $9.9 million).
In their half-year forecast, the company said several factors contribute to its stellar performance. Notably, the optoelectronic semiconductor business, encompassing semiconductor materials and integrated circuit design and applications, is forecasted to achieve approximately ¥640 million (€83.4 million/ $93.2 million).
The revenue share of this sector has risen from 32% in 2023 to about 42%. Sales of CMP polishing pads are expected to reach ¥300 million (€39.1 million/ $43.7 million), marking a year-on-year growth of 100.3%. CMP polishing and cleaning liquids sales are anticipated to be around ¥77 million (€10.0 million/ $11.2 million), up 190.87% year-on-year.
Additionally, semiconductor display materials, including YPI and PSPI, are projected to generate ¥168 million (€21.9 million/ $24.5 million) in revenue, showing a 234.56% year-on-year increase.
The printing and copying supplies business is also projected to achieve steady growth, with an expected revenue of approximately ¥880 million (€114.6 million/ $128.2 million), reflecting a slight year-on-year increase. The company said it had successfully enhanced product gross margins through cost reduction, efficiency policies, and product structure optimisation.
The company expects non-recurring gains and losses of approximately ¥20 million (€2.6 million/ $2.9 million), primarily due to government subsidies. This compares to ¥27.73 million (€3.6 million/ $4.0 million) in non-recurring gains and losses for the same period last year.
These forecasted figures are preliminary estimates, subject to auditing. The final financial data will be published in the company’s half-year report for 2024.
Categories : World Focus
Tags : 2024 Business Financials Hubei Dinglong
