Hwatsing Technology Second Quarter 2024 Earnings: Beats Expectations

Hwatsing Technology (SHSE:688120) Second Quarter 2024 Results

Key Financial Results

• Revenue: CN¥816.3m (up 32% from 2Q 2023).
• Net income: CN¥230.5m (up 28% from 2Q 2023).
• Profit margin: 28% (down from 29% in 2Q 2023). The decrease in margin was driven by higher expenses.
• EPS: CN¥0.97 (up from CN¥0.76 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Hwatsing Technology Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) also surpassed analyst estimates by 42%.

Looking ahead, revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Semiconductor industry in China.

Performance of the Chinese Semiconductor industry.

The company's shares are down 5.8% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for Hwatsing Technology that you need to take into consideration.

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