On July 3, Gelunhui reported that Olympic Circuit Technology (603920.SH) announced its performance forecast for the first half of 2024. The company expects to achieve a net income attributable to shareholders of the listed company of 275 million to 315 million yuan in the first half of 2024, an increase of 79.0425 million to 119.0425 million yuan, or an increase of 40.34% to 60.75%, compared with the same period last year. The company expects to achieve a net income attributable to shareholders of the listed company after deducting non-recurring gains and losses of 270 million to 310 million yuan in the first half of 2024, an increase of 77.5523 million to 117.5523 million yuan, or an increase of 40.30% to 61.08%, compared with the same period last year.
The main reasons for the increase in performance this period: (1) Strong order, increased production. In the first half of 2024, the electronics industry as a whole rebounded, and the company actively responded to market demand, actively developed business, had sufficient orders, and with the accelerated release of convertible bond investment projects, the overall utilization rate of production capacity increased, driving performance growth. (2) Further optimization of product structure. The company continues to promote the development of emerging businesses such as new energy vehicles, data centers, and wind and solar storage, achieving continuous optimization of product structure and driving the improvement of gross margin. (3) Bullish exchange rates. The company is mainly engaged in overseas businesses, and settles in US dollars as the main currency. In the first half of 2024, the RMB to USD exchange rate fell, resulting in exchange gains.