The recovery of consumer electronics has spread to upstream raw material companies. The performance of jiangsu boqian new materials, which produces nickel powder for MLCC, increased by 223.67% in the first half of the year. Journalists have noticed that since the fourth quarter of last year, the performance of jiangsu boqian new materials has shown a continuous growth trend. Insiders in the industry believe that in the second half of the year, with the increase in consumer electronics sales during the peak season and the increase in shipments of AIPC and AI smartphones, the performance of upstream raw material companies is expected to continue to improve.
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On August 21, according to Cailian Press (Reporter Fang Yanbo), the recovery of consumer electronics continues to spread upstream along the industrial chain. Driven by the increased demand for nickel powder used in the production of MLCC, the performance of jiangsu boqian new materials (605376.SH) has continued to grow rapidly.
Tonight, jiangsu boqian new materials released its 2024 semi-annual report. In the first half of the year, the company achieved operating revenue of 0.438 billion yuan, a year-on-year increase of 54.88%; net income attributable to the parent company was 54.58 million yuan, a year-on-year increase of 223.67%.
Public information shows that jiangsu boqian new materials mainly engages in the research, development, production, and sales of high-end metal powder materials for electronic applications. The new materials developed by the company have good application prospects in the fields of consumer electronics, automotive electronics, communications, industrial automation, aviation, and aerospace.
Since the beginning of this year, driven by the development of AI application terminals with high functionality and the upgrading and iteration of the industrial chain's hardware and software, the consumer electronics industry has entered a new growth cycle, thereby promoting an increase in the consumption of MLCC and its production raw material, small-diameter nickel powder.
Jiangsu boqian new materials also stated in the semi-annual report that the demand for downstream consumer electronic markets continues to recover, and the sales volume of nickel powder and copper powder for MLCC has increased significantly compared to the same period last year. In addition to the growth in downstream customers' demand for small-diameter nickel powder for high-grade MLCC, the company's sales product structure has also improved. Currently, the company's new type of small-diameter nickel powder for high-end electronic slurry has been successfully introduced into the supply chain system of major overseas customers and has achieved mass sales.
Driven by the recovery of downstream demand, journalists have noticed that the performance of jiangsu boqian new materials has shown a continuous growth trend.
Data shows that in the first quarter of this year, Jiangsu Boqian New Materials achieved a revenue of approximately 0.2 billion yuan, an increase of 60.33% year-on-year; the net income attributable to shareholders was approximately 0.016 billion yuan, an increase of 764.9% year-on-year; on this basis, in the second quarter of Jiangsu Boqian New Materials achieved a revenue of 0.238 billion yuan, an increase of 50.58% year-on-year, and a net income attributable to shareholders of 0.039 billion yuan, an increase of 158.94% year-on-year. The gross margin of the company in the second quarter was 24.49%, an increase of 12.35 and 5.7 percentage points compared with the same period last year and the first quarter of this year, respectively.
Industry insiders have told the Financial Associated Press that with the arrival of the traditional peak season for consumer electronics in the second half of the year and the growth of shipments of MLCC and high-end MLCC devices such as AIPC and AI phones, the demand for small particle size nickel powder is expected to increase, thereby driving the continued recovery of performance for related companies.