FIT Hon Teng Limited announced its 2024 interim report. The report shows that the company achieved significant growth in the first half of 2024, with revenue reaching 2,067 million US dollars, an increase of 15.9% year-on-year; gross margin increased from 15.9% to 20.4%, with a gross profit growth of 48.8% to 421 million US dollars. The company's net profit changed from a loss of 9 million US dollars in the same period of 2023 to a profit of 33 million US dollars. In addition, the company achieved revenue growth in markets such as smart phones, network infrastructure, computers and consumer electronics, electric vehicles, and terminal products. On July 3, 2023, the company completed the acquisition of Prettl SWH Group, a German automotive components design and manufacturing factory, and renamed it...Show More

FIT Hon Teng Limited announced its 2024 interim report. The report shows that the company achieved significant growth in the first half of 2024, with revenue reaching 2,067 million US dollars, an increase of 15.9% year-on-year; gross margin increased from 15.9% to 20.4%, with a gross profit growth of 48.8% to 421 million US dollars. The company's net profit changed from a loss of 9 million US dollars in the same period of 2023 to a profit of 33 million US dollars. In addition, the company achieved revenue growth in markets such as smart phones, network infrastructure, computers and consumer electronics, electric vehicles, and terminal products. On July 3, 2023, the company completed the acquisition of Prettl SWH Group, a German automotive components design and manufacturing factory, and renamed it FIT Voltaira Group GmbH, further expanding its business in the electric vehicle market. During the reporting period, the company had a net cash used in operating activities of 42 million US dollars, a net cash used in investing activities of 302 million US dollars, and a net cash generated from financing activities of 98 million US dollars. As of June 30, 2024, the company's cash and cash equivalents were 1,025,652 thousand US dollars.