Huahong Semiconductor announced its second-quarter performance report for 2024 on August 8, 2024. The report shows that the company's sales revenue in the second quarter of 2024 was $0.4785 billion, a 24.2% decrease from the same period last year of $0.6314 billion, but a slight increase from the previous quarter of $0.46 billion. The gross margin was 10.5%, a significant decrease from the same period last year's 27.7%, but an improvement from the previous quarter's 6.4%. The company's attributable net profit to the parent company was $6.7 million, a decrease from the same period last year's $78.5 million and the previous quarter's $31.8 million. Basic earnings per share was $0.004, lower than $0.060 for the same period last year and $0.019 for the previous quarter. The return on net assets...Show More

Huahong Semiconductor announced its second-quarter performance report for 2024 on August 8, 2024. The report shows that the company's sales revenue in the second quarter of 2024 was $0.4785 billion, a 24.2% decrease from the same period last year of $0.6314 billion, but a slight increase from the previous quarter of $0.46 billion. The gross margin was 10.5%, a significant decrease from the same period last year's 27.7%, but an improvement from the previous quarter's 6.4%. The company's attributable net profit to the parent company was $6.7 million, a decrease from the same period last year's $78.5 million and the previous quarter's $31.8 million. Basic earnings per share was $0.004, lower than $0.060 for the same period last year and $0.019 for the previous quarter. The return on net assets (annualized) was 0.4%, significantly lower than 10.0% for the same period last year and 2.0% for the previous quarter. Tang Junjun, the company's president, said that the semiconductor market is experiencing a slow recovery, and the company's sales revenue and gross margin are in line with expectations, and capacity utilization has improved. In addition, the company is advancing the construction of the second 12-inch production line and is expected to start trial production before the end of the year. The company expects sales revenue in the next quarter to reach $0.5 billion to $0.52 billion, and the gross margin is expected to be between 10% and 12%.