华天科技等封测厂：业绩有喜有忧 2024 盘点

Core Insights - Several semiconductor packaging and testing companies in the A-share market have disclosed their 2024 annual reports or performance forecasts, indicating growth in revenue and net profit for key players [1] Group 1: Company Performance - Huatian Technology reported the fastest revenue growth among the three major packaging and testing companies, with a revenue of 14.462 billion yuan, up 28.00% year-on-year [1] - Tongfu Microelectronics achieved the highest growth in net profit, with a net profit of 678 million yuan, a staggering increase of 299.90% year-on-year [1] - Changdian Technology's revenue reached 35.96 billion yuan, reflecting a year-on-year growth of 21.2%, with a net profit of 1.61 billion yuan, up 9.5% year-on-year [1] Group 2: Financial Metrics - Tongfu Microelectronics reported a net cash flow from operating activities of 3.877 billion yuan, a decrease of 9.68% year-on-year, despite a 9.38% increase in EBITDA to 4.815 billion yuan [1] - Huatian Technology's net profit increased to 616 million yuan, marking a growth of 172.29% year-on-year [1] - Huicheng Co. saw its revenue rise to 1.501 billion yuan, a growth of 21.22%, but its net profit fell by 18.48% to 160 million yuan [1] Group 3: Market Trends - The integrated circuit packaging and testing gross margin was reported at 22.34%, a decrease of 4.83 percentage points year-on-year, indicating increased competition in the display driver chip packaging sector [1] - Changdian Technology is expected to perform well in the first quarter of 2025, projecting a net profit of around 200 million yuan, which would represent a year-on-year increase of approximately 50.00% [1]