华特气体：24Q2业绩符合预期，扩能拓品助力长期发展

Investment Rating - The report maintains an "Outperform" rating for the company [5] Core Insights - The company reported a revenue of 718 million yuan for the first half of 2024, a year-over-year decrease of 3%, while the net profit attributable to shareholders was 96 million yuan, reflecting a year-over-year increase of 29% [5] - In Q2 2024, the company achieved a revenue of 385 million yuan, with a year-over-year growth of 1% and a quarter-over-quarter growth of 16%. The net profit for the same period was 51 million yuan, showing a year-over-year increase of 48% and a quarter-over-quarter increase of 13% [5] - The semiconductor industry is entering a recovery phase, with the company benefiting from a significant customer base in the domestic market and successful penetration into international markets, including partnerships with major semiconductor firms [5] - The company is expanding its product offerings and production capacity, with new products like germane and silane expected to contribute to revenue growth in the coming quarters [5] Financial Summary - For 2024, the company forecasts a net profit of 233 million yuan, with projected earnings per share of 1.93 yuan. The price-to-earnings ratio is expected to be 23 times [6] - Revenue is projected to grow to 1.981 billion yuan in 2024, with a year-over-year growth rate of 32% [6] - The gross margin for Q2 2024 was reported at 30.39%, with a year-over-year increase of 2.14 percentage points [5]