Gelonghui, May 9 | Huahong Semiconductor (01347.HK) announced its results for the first quarter of 2024, with sales revenue of US$460 million in the first quarter of 2024, US$630.8 million in the same period of the previous year and US$455.4 million in the previous quarter; gross profit margin of 6.4%, 32.1% in the same period of the previous year and 4.0% in the previous quarter; profit attributable to the owner of the parent company of US$31.8 million, compared with US$15.4 million in the same period last year; basic profit per share was US$0.019, US$0.116 million, up The quarter was $0.021; return on net assets (annualized) was 2.0%, compared to 19.6% in the same period last year and 2.4% in the previous quarter.
Guidance for the second quarter of 2024: Expected sales revenue is between US$470 million and US$50 billion. The estimated gross margin is between 6% and 10%.
Mr. Tang Junjun, President and Executive Director of the company, commented on the 2024 first quarter results: “Huahong Semiconductor's sales revenue for the first quarter of 2024 was US$460 million, in line with guideline expectations; the gross margin for the single quarter was 6.4%, slightly higher than the guideline.”
“The overall semiconductor market boom has not escaped the slump, and due to seasonal and annual maintenance, the first quarter was a traditional low season for foundry companies, but Huahong Semiconductor's capacity utilization rate, sales revenue, and gross margin all increased month-on-month in the first quarter, confirming the overall improvement in market demand for the company's characteristic processes.”
Mr. Tang continued: “The company's first 12-inch production line will operate with a monthly production capacity of 94,500 pieces throughout this year. The second 12-inch production line is also under construction and is expected to be completed and put into operation by the end of the year. We will keep up with market trends, seize market opportunities, continue to promote the development of new technologies and the optimization and upgrading of existing process platforms, continuously strengthen the company's advantages in characteristic process fields, focus on new productivity, promote industrial ecological collaboration, achieve faster and higher quality development of Huahong Company, and give back to investors with better operating efficiency and return on investment.”