JXPCB(SH:688655)2024-09-10 08:41Performance Overview - The company reported a 5.01% year-on-year increase in revenue for the first half of 2024, driven by growth in sectors such as smart security, automotive electronics, and computing, with PCB sales increasing by 18.24% compared to last year [2][3] - Despite the increase in PCB sales, overall revenue growth was modest due to high fixed costs and intense industry price competition, leading to significant pressure on profits [4] Future Growth Drivers - The company plans to enhance its production capacity with the addition of a new intelligent factory, which is expected to improve operational performance as capacity gradually increases [3] - There is a focus on increasing the proportion of high-value orders, such as HDI and multi-layer products, to optimize product structure and enhance profitability [3] Challenges Faced - The decline in performance for the first half of 2024 was attributed to external economic uncertainties, reduced foreign exchange gains, and increased interest and R&D expenses [4] - The company is facing challenges in fully utilizing its production capacity, which has resulted in high unit fixed costs and limited marginal benefits [4] Order Status and Market Focus - The overall order situation remains stable, with a continued focus on markets such as automotive electronics, new energy (solar storage), 5G communications, and artificial intelligence [4][5] - The company is actively developing its Internet + smart model production base to meet the growing demand for PCB prototypes, with significant progress reported in construction and equipment procurement [5] R&D and Technological Advancements - R&D investment increased by 18.78% year-on-year, with ongoing projects in high-speed circuit boards and advanced server circuit boards [6][7] - The company is making strides in developing technologies for 5G communication and data centers, which are expected to enhance its competitive position in the market [7]