During the reporting period, the revenue increased mainly due to market recovery and increased sales volume; Looking ahead to 2024, Quchong Technology said that as mid- to low-end brand smartphones and tablets and other terminal products will successively adopt AMOLED display screens, and domestic panel factories continue to invest in AMOLED production lines, it is expected that the penetration rate of AMOLED will further increase in the future.
Kechuangban Daily reported on August 14th (Reporter Wu Xuguang) that Quchong Technology, a display driver chip testing service provider, released its performance report for the first half of 2024 on the evening of August 14th.
During the reporting period, Quchong Technology's operating income reached 0.934 billion yuan, an increase of 35.58% year-on-year; net profit reached 0.162 billion yuan, an increase of 32.57% year-on-year; and non-GAAP net income was 0.157 billion yuan, an increase of 53.72% year-on-year.
Quchong Technology stated that during the reporting period, revenue increased mainly due to market recovery and sales volume growth.
Quchong Technology mainly engages in advanced packaging and testing of integrated circuits, and currently focuses on the display driver chip testing field and the non-display chip testing field represented by power management chips and RF front-end chips.
Since the beginning of this year, demand for terminal products such as smartphones, tablets, and televisions has continued to increase year-on-year.
Data from the China Academy of Information and Communication Technology shows that in May of this year, the shipment of smartphones was 28.6 million, a year-on-year increase of 13.5%, accounting for 94.3% of the total shipments of mobile phones during the same period; 37 new models of smartphones were launched, a year-on-year increase of 37%, accounting for 75.5% of the total new models of mobile phones launched during the same period. From January to May 2024, smartphone shipments were 0.115 billion units, a year-on-year increase of 11.1%, accounting for 94.4% of the total shipments of mobile phones during the same period.
Quchong Technology stated during the first quarter of this year that it expects that as mid- to low-end brand smartphones, tablets, and other terminal products will successively adopt AMOLED display screens, and domestic panel factories continue to invest in AMOLED production lines, the penetration rate of AMOLED will further increase in the future.
Quchong Technology recently stated during an institutional research interview that the transfer of the semiconductor display industry chain to China provides important market guarantees for the company in the medium and long term. In recent years, the trend of domestication of the display driver chip industry chain has been driven by the transition of the consumption market for consumer electronics from South Korea to China.
Kechuangban Daily noted that Quchong Technology is also laying out non-display chip testing business to create a second business growth pole.
According to the semi-annual report, the company has successively developed various block manufacturing technologies such as copper-nickel-gold bumps, copper pillar bumps, and tin bumps, as well as back-end DPS packaging technology, which can be used for full-process fan-In WLCSP chip size packaging. Scale production.
During an institutional research interview on July 16th of this year, Quchong Technology stated that the non-display chip testing business is the focus of the company's product structure optimization, profit growth, and strategic development in the future. In terms of packaging products, the company will strengthen the mass production of advanced packaging and testing business for power management chips, RF front-end, and other chips.
Kechuangban Daily noted that on the same evening (August 14th), Quchong Technology also issued an announcement that some of the fund-raising projects were delayed.
According to the announcement, in the IPO fund-raising project, the company plans to invest 0.97 billion yuan in the "Quchong Advanced Packaging Test Production Base Project" (hereinafter referred to as the "current fund-raising project"). The time for the current fund-raising project has been extended from June 2024 to December 2024.
Regarding the reasons for the delay of some of the fund-raising projects, Quchong Technology stated that due to the equipment procurement overseas and the production capacity of suppliers, the delivery of equipment was delayed compared to the original schedule, and the customer certification period is long. As a result, the construction progress of the company's fund-raising project has been delayed to a certain extent.
"The delay of some of the fund-raising projects is a prudent decision made by the company based on the implementation of the fund-raising projects, and only involves changes in project schedules, without changing the investment content, investment amount, and implementation subjects of the fund-raising projects, nor will it have a substantial impact on the implementation of the fund-raising projects." Quchong Technology added.