Avary Holding(SZ:002938)2024-08-15 07:56Financial Performance - In the first half of 2024, the company achieved operating revenue of 13.126 billion CNY, a year-on-year increase of 13.79% [2] - Net profit for the same period was 784 million CNY, a decrease of 3.40%, while net profit attributable to shareholders after deducting non-recurring gains and losses was 756 million CNY, an increase of 2.17% [2] - R&D investment reached 1.079 billion CNY, an increase of over 100 million CNY compared to the previous year [2] Revenue Breakdown - Revenue from communication boards was 8.730 billion CNY, up 3.68% year-on-year [3] - Revenue from consumer electronics and computer boards was 3.931 billion CNY, up 36.57% [3] - Revenue from automotive and server boards was 429 million CNY, up 94.31% [3] Financial Health - As of June 30, 2024, the company had cash and cash equivalents of 10.392 billion CNY and a debt-to-asset ratio of 26.83% [3] - Accounts receivable turnover days were 72 days, and inventory turnover days were 57 days, both indicating a strong position within the industry [3] Market Outlook - The company is entering a traditional production peak season, with July revenue showing good growth and all production lines operating at full capacity [4] - The global market for server and storage PCBs is projected to grow from approximately 8.2 billion USD in 2023 to 13.8 billion USD by 2028, with a compound annual growth rate (CAGR) of 11% [4] Strategic Focus - The company is committed to a strategy of "quality improvement, efficiency enhancement, cost reduction, inventory reduction, and carbon reduction" to strengthen its core competitiveness [3] - The company aims to maintain its leadership in high-end PCB products, focusing on technological innovation and market demand [4] Investor Interaction - During the investor meeting, the company addressed questions regarding price pressures and the competitive landscape, emphasizing the importance of technological capability and product quality in maintaining market position [5]