On July 10th, Nanya New Material issued a statement, stating that in the first half of 2024, the company's revenue will be between 1.55 and 1.65 billion yuan, an increase of 0.076 to 0.176 billion yuan from the same period last year, and the net profit attributable to shareholders will be 52 to 58 million yuan, an increase of 88.6158 to 94.6158 million yuan from the same period last year, turning losses into profits.

Based on this calculation, the company is expected to achieve revenue of 0.893 to 0.993 billion yuan in the second quarter of 2024, and a net profit attributable to shareholders of 41.9 to 47.9 million yuan.

For the reasons for the company's performance growth, Nanya New Material said that during the reporting period, the company continued to optimize its product structure, actively expand its market and business, and has seen significant improvements in product sales volume, operating income, and gross margin compared with the same period last year, which has improved profitability; at the same time, it has benefited from the policy of adding value-added tax input tax deduction as income and increased other income.

Nanya New Material's copper-clad products are widely used in terminal fields such as consumer electronics, computers, communications, data centers, automotive electronics, security, aviation and industrial control.

Regarding the current product sales and application areas of Nanya New Material, the company's Secretary of the Board of Directors told the Science and Technology Innovation Board Daily reporter, "The sales of car-mounted and high-speed products in the first half of the year were good, and products with AI computing power demand are also in the high-speed product area. The demand in the consumer electronics field still needs to be observed. The company is currently developing new products of the standard of Panasonic M9."

It is worth mentioning that in the first half of this year, the price of copper, an upstream raw material for copper clad boards, rose due to the influence of demand for AI and computing power.

The Secretary of the Board of Directors of Nanya New Material responded: "Although the price of upstream raw materials has risen, our product price increase is strategic, and different price increase strategies are adopted for different customers, which does not necessarily follow the increase of raw material prices."

In the investor survey in June this year, the company also stated that influenced by AI, computing power and other factors, high-speed products have grown significantly this year. "The main driving factors for this round of demand growth are the trend of international copper prices and the rise in the price of glass cloth and resin, as well as the obvious willingness of clients to replenish inventory."

"In addition, there are many measures that the country has taken to boost the economy this year, such as replacing old equipment with new ones and gradually relaxing the real estate policy, which will have a positive impact on the electronic circuit industry," Nanya New Material further stated.

In addition, some institutions pointed out that as the "mother" of electronic products, the PCB circuit board industry has both cyclical and growth characteristics. With the rapid iteration and wide application of AI big models, as well as the big wave of vehicle electrification/intelligence, servers and automotive PCBs will usher in an opportunity for simultaneous increase in volume and price.