China Resources Microelectronics Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

China Resources Microelectronics (SHSE:688396) Second Quarter 2024 Results

Key Financial Results

• Revenue: CN¥2.64b (down 1.5% from 2Q 2023).
• Net income: CN¥247.1m (down 38% from 2Q 2023).
• Profit margin: 9.3% (down from 15% in 2Q 2023). The decrease in margin was primarily driven by higher expenses.
• EPS: CN¥0.19 (down from CN¥0.30 in 2Q 2023).

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

China Resources Microelectronics Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 22%.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 23% growth forecast for the Semiconductor industry in China.

Performance of the Chinese Semiconductor industry.

The company's shares are up 1.7% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 1 warning sign for China Resources Microelectronics that you should be aware of.

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