Summary by Futu AI
Suzhou Boeck Microelectronics Co., Ltd. ("Boeck Micro") announced its mid-term performance for the six months ended June 30, 2024. The report showed that the company's revenue increased from RMB 204.4 million in the same period of 2023 to RMB 290.6 million, an increase of 42.1%. Gross profit increased from RMB 112.9 million to RMB 149.0 million, an increase of 31.9%, but the gross margin declined from 55.2% to 51.3%. Profit for the period increased from RMB 45.9 million to RMB 67.1 million, an increase of 46.3%. R&D expenses increased by 23.3% to RMB 70.8 million. The company has not recommended the distribution of mid-term dividends. Boeck Micro said that the revenue growth was mainly due to the launch of new industrial products and the deepening of important customer relationships. The increase in R&D expenses reflects the expansion of the company's business scale and profitability. The company will continue to strengthen R&D capabilities and expand its market share in new energy automobiles and other fields in the future.