Annual Report 2024

AAC TECH announced its annual performance report for 2024, with revenue reaching 27.33 billion yuan, representing a year-on-year growth of 33.8%; gross profit of 6.04 billion yuan, a significant increase of 75.0% year-on-year; and net profit of 1.8 billion yuan, soaring 142.7% year-on-year. The gross margin rose to 22.1%, an increase of 5.2 percentage points year-on-year; operating cash flow recorded 5.2 billion yuan, a year-on-year increase of 12.3%.The company's main business sectors performed steadily, with acoustics business revenue of 8.21 billion yuan, growing 9.5% year-on-year; optics business revenue of 5 billion yuan, an increase of 37.9% year-on-year; and electromagnetic transmission and precision devices revenue of 9.71 billion yuan, growing 17.8% year-on-year. Notably, the acquisition of Premium Sound Solutions (PSS...Show More

AAC TECH announced its annual performance report for 2024, with revenue reaching 27.33 billion yuan, representing a year-on-year growth of 33.8%; gross profit of 6.04 billion yuan, a significant increase of 75.0% year-on-year; and net profit of 1.8 billion yuan, soaring 142.7% year-on-year. The gross margin rose to 22.1%, an increase of 5.2 percentage points year-on-year; operating cash flow recorded 5.2 billion yuan, a year-on-year increase of 12.3%.The company's main business sectors performed steadily, with acoustics business revenue of 8.21 billion yuan, growing 9.5% year-on-year; optics business revenue of 5 billion yuan, an increase of 37.9% year-on-year; and electromagnetic transmission and precision devices revenue of 9.71 billion yuan, growing 17.8% year-on-year. Notably, the acquisition of Premium Sound Solutions (PSS) was completed in the first phase through a subsidiary, adding revenue from the automotive and consumer acoustic business of 3.52 billion yuan.Looking ahead, the company will continue to benefit from growth opportunities brought by the application of AI and the expansion of the new energy vehicle market. Management stated it will continue to increase R&D investment, with current R&D expenditures accounting for 7.4% of revenue, promoting technological innovation through 19 global R&D centers. Meanwhile, the company launched a share buyback plan with a cap of 0.778 billion Hong Kong dollars and established a sustainability committee committed to enhancing its ESG performance.