Summary by Moomoo AI
aac tech announced its unaudited interim performance for the six months ended June 30, 2024, showing a year-on-year increase in revenue and gross margin of 22.0% and 86.4% respectively, and a significant increase of 257.3% in net profit. The gross margin and net profit margin increased by 7.4 and 3.2 percentage points respectively. The growth was mainly driven by the recovery of the mobile phone market, product portfolio improvement, and operational efficiency enhancement. In addition, PSS consolidation also contributed to the performance growth. During the reporting period, aac tech's operating cash inflow increased by 29.1% year-on-year, and capital expenditures amounted to RMB 0.917 billion. The group's net asset-liability ratio was 6.0%, and the book cash was RMB 7.81 billion. The inventory turnover days improved from 80 days to 71 days. The group will no longer pay interim dividends and will maintain a prudent financial management policy and strong cash flow to advance its business development and create long-term value for shareholders.
