Shenzhen Han's CNC Technology (301200) Q4 2024 earnings summary

Executive summary

• Revenue reached ¥3.34 billion in 2024, up 104.56% year-over-year, with net profit attributable to shareholders at ¥301.18 million, up 122.20% year-over-year.

• Growth driven by surging AI infrastructure demand, electronics recovery, and automotive electronics upgrades, boosting PCB industry investment and equipment orders.

• The company maintained its leading market position in PCB equipment, expanding product lines and international presence, especially in Southeast Asia.

Financial highlights

• Operating income: ¥3.34 billion, up 104.56% year-over-year.

• Net profit attributable to shareholders: ¥301.18 million, up 122.20% year-over-year.

• Operating cash flow: ¥154.99 million, down 62.81% year-over-year.

• Basic EPS: ¥0.72, up 125% year-over-year.

• Gross margin: 28.11%, down 4.48 percentage points year-over-year.

Outlook and guidance

• PCB industry expected to maintain strong growth, with AI, automotive, and advanced packaging as key drivers.

• 2025 global PCB industry growth forecast at 6.8%, with high multilayer, HDI, and IC substrate segments leading.

• Company to focus on automation, high-end product development, overseas expansion, and talent cultivation.