Investment Rating - The report maintains a "Buy" rating for the company [5][4]. Core Views - The company's performance met expectations with significant improvement in Q2, driven by key project deliveries [3][4]. - The company continues to strengthen its advantages in the 3C sector while actively developing new processes in collaboration with major clients [4]. - The company is focusing on automation and expanding into new industries and markets, including semiconductors and low-altitude economy [4]. Financial Summary - For H1 2024, the company achieved revenue of 1.834 billion yuan, a year-on-year increase of 12.47%, and a net profit attributable to shareholders of 96 million yuan, up 6.07% [4]. - In Q2 2024, the company reported revenue of 1.091 billion yuan, a remarkable increase of 46.00%, and a net profit of 117 million yuan, up 206.08% [4]. - The gross margin and net margin for H1 2024 were 36.26% and 5.36%, respectively, remaining stable year-on-year [4]. - As of June 30, 2024, the company's inventory stood at 3.397 billion yuan, reflecting a quarter-on-quarter increase of 39.51% [4]. Business Development - The company reported 3C revenue of 1.344 billion yuan in H1 2024, accounting for 73.4% of total revenue, with a year-on-year growth of 2.28% [4]. - The company is actively expanding its product categories and downstream applications in the 3C field, while also collaborating with major clients on FATP and MR equipment projects [4]. - In H1 2024, the company's revenue from the new energy sector reached 437 million yuan, a year-on-year increase of 65.39% [4].
博众精工2024年半年报点评：Q2改善明显，期待AI落地带动新增量