Amlogic(688099)2024-07-10 08:20Financial Performance - For the first half of 2024, the company expects to achieve revenue of approximately CNY 3,016 million, representing a year-on-year increase of 28.32% compared to CNY 2,350 million in the same period of 2023[1][2]. - The projected net profit attributable to the parent company for the first half of 2024 is approximately CNY 362 million, reflecting a year-on-year growth of 95.98% from CNY 184.71 million in the previous year[1][2]. - The company anticipates a net profit of approximately CNY 340 million after deducting non-recurring gains and losses, which is an increase of 115.29% compared to CNY 157.93 million in the same period last year[1][2]. - In Q2 2024, the company expects revenue of approximately CNY 1,638 million, a year-on-year increase of 24.51% and a quarter-on-quarter increase of 18.81%[3]. - The net profit for Q2 2024 is projected to be around CNY 234 million, showing a year-on-year growth of 51.97% and a quarter-on-quarter growth of 83.82%[3]. Research and Development - The company increased its R&D personnel by approximately 108 people in the first half of 2024, with R&D expenses amounting to around CNY 674 million, an increase of CNY 66 million compared to the same period last year[3]. Product Performance - The T series products achieved a sales revenue growth of approximately 70% year-on-year in the first half of 2024[3]. - The W series Wi-Fi 6 product has rapidly gained market recognition, with over 8% of the company's total shipments in Q2 2024 coming from this series[3]. Operational Strategy - The company is focusing on operational efficiency improvements and has identified a series of action items to enhance product competitiveness[4]. - The company expects continued positive growth in revenue for Q3 2024 and the full year, although specific performance remains uncertain[4].