Cowell Electronics announced its interim financial results for the six months ended June 30, 2024. The report shows that the company's revenue is about $585.9 million, a year-on-year increase of 59.8%. However, the company's net profit attributable to equity shareholders is about $16.0 million, a decrease from $18.0 million in the same period last year. Basic earnings per share were 1.9 cents, lower than 2.1 cents in the same period last year. The performance announcement pointed out that despite the challenges facing the global economy, the company has achieved steady growth in its business by improving its products and technology capabilities, optimizing its supply chain management, enhancing mutual trust with partners, ensuring stable supply and quality of products. During the reporting period, the company...Show More

Cowell Electronics announced its interim financial results for the six months ended June 30, 2024. The report shows that the company's revenue is about $585.9 million, a year-on-year increase of 59.8%. However, the company's net profit attributable to equity shareholders is about $16.0 million, a decrease from $18.0 million in the same period last year. Basic earnings per share were 1.9 cents, lower than 2.1 cents in the same period last year. The performance announcement pointed out that despite the challenges facing the global economy, the company has achieved steady growth in its business by improving its products and technology capabilities, optimizing its supply chain management, enhancing mutual trust with partners, ensuring stable supply and quality of products. During the reporting period, the company's largest customer contributed 93.5% of revenue. The company's capital expenditures are mainly used to purchase additional equipment to produce more precise inverted chip camera modules. As of June 30, 2024, the company's total assets are about $1,013.2 million, net current assets are approximately $191.9 million, and equity is about $429.9 million. The company's management stated that cash and cash equivalents are sufficient to meet operational needs and will continue to invest in research and development, cultivate markets, and create value for shareholders.