Nanxin Technology released the performance forecast for the first half of 2024, with operating income increasing by 86.51% to 97.11% compared to the same period of last year, and net income attributable to shareholders is expected to increase by 101.28% to 119.16% year-on-year; Nanxin Technology stated that in the first half of this year, the company's business scale has expanded due to the recovery of terminal demand, and there are full orders in hand.
On June 18th, South China Chip Technology released a forecast for its H1 2024 performance. The announcement showed that according to preliminary calculations by the company's finance department, it is expected to achieve revenue of 1.232 billion yuan to 1.302 billion yuan in the first half of this year, an increase of 86.51% to 97.11% compared to the same period last year.
As for net profit, South China Chip Technology expects its H1 2024 net profit attributable to parent company to be between 203 million yuan to 221 million yuan, an increase of 101.28% to 119.16% compared to the same period last year. The above data has not been audited by a registered accountant.
South China Chip Technology stated that in the first half of this year, due to the recovery of terminal demand, the company's business scale has expanded, continuously launched competitive products in the market, and maintained full order books, with its main business growing steadily.
Benefiting from the recovery of demand and continuous shipping by customers, as well as South China Chip Technology's continued volume release of products and market layout in previous years, the actual performance of South China Chip Technology has maintained high growth during the traditional low season in the first quarter of this year, achieving a net profit attributable to parent company of 101 million yuan, a year-on-year increase of 224.79%, and an increase of 23.91% compared to the previous quarter.
Since the third quarter of last year, various mobile phone brands have continuously released new products, and some high-end and flagship models have launched charging powers of 200W or more. The penetration rate and charging power of high-power charging for smart phones continue to increase. South China Chip Technology's related products achieved a maximum of 300W fast charging power last year, and its technology has maintained a certain advantage in the industry.
South China Chip Technology stated during an institutional interview in May of this year that the company serves many well-known domestic smartphone manufacturers, and the overall order situation is normal, with full demand. The company is expected to continue to grow steadily in the mobile device business sector this year. In the global market, South China Chip Technology's charge pump products rank first. The company revealed that it is actively developing business with well-known overseas Android smartphone brand customers.
In the first quarter of this year, South China Chip Technology's mobile device revenue accounted for about 76.05%, of which the vast majority came from wired charging chip products for mobile phones. The rest includes wireless charging, BMS, and display power chip products. Adapter-related revenue accounted for approximately 11.50%; general revenue accounted for approximately 10.40%; and automotive electronics revenue accounted for approximately 2.05%. South China Chip Technology previously stated that it will connect the entire application scenario, complete the end-to-end product layout, and further enhance the overall competitiveness of its products.
The automotive electronics field is also one of the key areas where South China Chip Technology is currently laying out. It is learned that the company will launch multiple new products in the automotive regulation-level market in 2023, such as HSD chips, e-fuse chips, high-performance DC-DC chips, etc., all of which have entered the customer sampling stage. In Q1, the performance of automotive electronics is nearly doubling. The company stated that it is expected that its automotive electronics business will maintain a fast growth rate in 2024.
As for the adapter business, in the first quarter of this year, South China Chip Technology's related power management chip business income grew significantly year-on-year. It is expected that the overall situation will maintain a high-speed growth trend this year, and the scale of products related to integrated solutions will continue to expand in the future.
According to the latest research report from QYResearch, the global power management driver chip market is expected to be about 9.142 billion US dollars in 2023, and is expected to reach 19.873 billion US dollars in scale by 2029, with a compound annual growth rate of 7.93%. The continuous popularization and diversification of electronic devices, and the increasing demand for efficient and stable power management in the market, will promote sales growth of power management driver chips.