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奥士康上半年营收同比增长19.43% 泰国工厂产能正在爬坡
Zheng Quan Ri Bao Zhi Sheng· 2025-08-13 06:45
Core Viewpoint - Aoshikan Technology Co., Ltd. reported a revenue increase of 19.43% year-on-year for the first half of 2025, reaching approximately 2.565 billion yuan, but a net profit decrease of 12.79% to about 184 million yuan, attributed to the ramp-up of production capacity and yield at its Thailand factory [1][2] Group 1: Company Performance - The company experienced a revenue growth of 19.43% year-on-year, with revenue reaching approximately 2.565 billion yuan [1] - The net profit attributable to shareholders decreased by 12.79% year-on-year, amounting to about 184 million yuan [1] - The decline in profit is primarily due to the ongoing ramp-up of production capacity and yield at the Thailand factory [1][2] Group 2: Thailand Factory - The Thailand factory is a key support point for the company's global capacity layout, leveraging local resource advantages, favorable policies, and convenient logistics [2] - The factory is currently focused on high-end PCB products for AI servers, AIPC, and automotive electronics, fulfilling overseas orders [2] - The ramp-up cycle for PCB factory capacity typically takes around 12 months, indicating that the Thailand factory is entering a critical phase of capacity release [2] Group 3: Raw Material and Costs - Despite high copper prices, the company has secured sufficient materials in advance and has risk hedging measures in place, minimizing the impact on gross margins for PCB products [2] - The increase in sales expenses by 30.08% year-on-year is attributed to the introduction of new products and the expansion into new markets, including the establishment of a sales team in North America [2]
鹏鼎控股: 2025年半年度报告
Zheng Quan Zhi Xing· 2025-08-12 12:08
Core Viewpoint - The report highlights the strong financial performance of Avary Holding (Shenzhen) Co., Ltd. for the first half of 2025, with significant growth in revenue and net profit, driven by increased customer orders and market demand in the PCB industry [1][2]. Company Overview and Financial Indicators - The company reported a revenue of approximately 16.38 billion yuan, representing a 24.75% increase compared to the same period last year [2][19]. - The net profit attributable to shareholders reached approximately 1.23 billion yuan, marking a 57.22% increase year-on-year [2][19]. - The company plans not to distribute cash dividends or issue bonus shares [1]. Business Operations - The company operates in the printed circuit board (PCB) manufacturing industry, which is essential for various electronic products, including communications, consumer electronics, and automotive applications [3][4]. - The company employs a make-to-order production model, ensuring customized production to meet client needs [4][5]. - The company has established a robust supplier evaluation system to ensure quality and efficiency in procurement [5]. Industry Position - The company is recognized as one of the few large manufacturers capable of providing comprehensive PCB solutions, including FPC, SMA, SLP, HDI, RPCB, and Rigid Flex products [6][11]. - According to Prismark, the global PCB industry is projected to grow, with a total output value of approximately 79.13 billion USD in 2025, reflecting a 7.6% year-on-year increase [3][6]. Performance Drivers - The demand for FPC products is expected to grow significantly due to advancements in AI and mobile devices, with a projected annual growth rate of 4.5% from 2024 to 2029 [7][8]. - The company has a market share of over 30% in the global FPC market, positioning it as a leader in this segment [8][10]. - The high-density interconnect (HDI) products are also experiencing rapid growth, driven by the increasing performance requirements of AI servers [9][10]. Financial Management - As of June 30, 2025, the company maintained a low debt-to-asset ratio of 29.24% and had cash assets amounting to approximately 13 billion yuan [10][18]. - The company has consistently returned value to shareholders, with a cumulative dividend payout of approximately 9.72 billion yuan since its listing [18]. Revenue Composition - The revenue from communication boards accounted for approximately 62.7% of total revenue, while consumer electronics and computing boards contributed about 31.6% [19]. - The automotive/server board segment saw a remarkable growth of 87.42%, reflecting the increasing demand in the AI server market [16][19].