Leadyo IC Testing Co., Ltd. has released its financial report for the first half of 2024.

According to the data, in the first half of 2024, Leadyo IC Testing Co., Ltd. achieved operating income of 2.31 billion yuan, a decrease of 5.51% year-on-year; and realized a net income attributable to the parent company of -8.4442 million yuan, a decrease of 139.81% year-on-year.

According to the report by Star Daily, among the companies in the semiconductor testing sector listed on the A-share market, most of them achieved positive growth in performance in the first half of the year under the recovery pace of the semiconductor industry. Only Leadyo IC Testing Co., Ltd., Blue Arrow Electronics, Jiangsu Dagang, and Hualing Corporation saw a year-on-year decline in performance.

Leadyo IC Testing Co., Ltd. stated in the financial report that there has indeed been an improvement in consumer terminal demand, driving an increase in customer testing demand for certain product categories such as AIoT, smart phones, storage, and satellite communications. The revenue from related chip testing has increased significantly year-on-year.

However, Leadyo IC Testing Co., Ltd. also stated that the demand for high computing power, industrial control, and communication testing has decreased. As a result, there has been a varying degree of decline in revenue from this type of testing.

In the first half of the year, Guangdong Leadyo IC Testing Co., Ltd. saw a change in its net income from profit to loss. The company attributed this to lower-than-expected revenue in the first half of the year, while fixed costs such as depreciation, amortization, labor, electrical utilities, factory expenses, and maintenance costs continued to rise due to the gradual release of capacity from previous investments. On the other hand, increased shipment of consumer chips compared to the same period last year resulted in higher costs due to increased use of corresponding materials.

According to the financial report, the company's cost of goods sold in the first half of this year was 0.174 billion yuan, an increase of 12.0079 million yuan compared to the same period last year, a year-on-year growth of 7.40%. This accounted for 75.50% of the revenue, while the revenue decreased by 13.4541 million yuan compared to the same period last year.

The gross margin of Leadyo IC Testing Co., Ltd. in the first half of the year was 24.50%, a decrease of 9.08 percentage points compared to the same period last year.

In July 2024, Leadyo IC Testing Co., Ltd. officially issued convertible bonds, raising 0.52 billion yuan. Of this amount, 0.49 billion yuan will be invested in expanding chip testing capacity, which will add approximately 1 million hours of CP testing service and approximately 1.14 million hours of FT testing service capacity after completion. The project has received preliminary funding prior to the official issuance of the convertible bonds.

According to the financial report, Leadyo IC Testing Co., Ltd. recorded depreciation of fixed assets amounting to 81.916 million yuan in the first half of the year, compared to 69.91 million yuan in the same period last year.

In the risk statement section, Leadyo IC Testing Co., Ltd. stated that as the investment in testing capacity continues, the increasing scale of fixed assets will lead to a continuous increase in fixed costs such as annual average depreciation and amortization expenses. However, since ramping up capacity takes a certain amount of time, if future market demand growth is lower than expected or market expansion efforts are weak, there may be a risk of declining performance or losses as the initial investment in capacity may not quickly generate returns to compensate for the added fixed costs.

Currently, Leadyo IC Testing Co., Ltd. has developed testing solutions for 44 categories of chips and has carried out mass production testing for nearly 6,000 chip models, which are suitable for various terminal application scenarios.

Leadyo IC Testing Co., Ltd. is expanding its business in wafer thinning and other services through its subsidiary, Liyang Chip. According to the company's announcement, Liyang Chip has signed contracts for wafer thinning and related support services, with an estimated amount of 65 million yuan, and is currently fulfilling the contracts with customers as agreed.

In addition, guangdong leadyo ic testing co.,ltd. recently announced that its wholly-owned subsidiary, shanghai guangtong semiconductors microelectronics co., ltd., has signed an exclusive agreement with shanghai diecheng optoelectronic technology co., ltd. to provide wafer heterostructure and testing process technology services for ultrawideband spectral heterostructure image sensor chips.