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On August 21, Cailian News (Reporter Fang Yanbo) reported that the recovery of consumer electronics continued to spread upstream along the industrial chain, driving the continuous growth of Boqian New Materials (605376.SH) with the increasing demand for nickel powder used for MLCC production.

Tonight, Boqian New Materials released its semi-annual report for 2024. In the first half of the year, the company achieved a revenue of 0.438 billion yuan, a year-on-year increase of 54.88%; net income attributable to the mother was 54.58 million yuan, a year-on-year increase of 223.67%.

Public information shows that Boqian New Materials is engaged in the research, development, production, and sales of high-end metal powder materials for electronic applications. Its developed new materials have good prospects in the fields of consumer electronics, automotive electronics, communications, industrial automation, aviation, and aerospace.

Since the beginning of this year, driven by the development of AI application terminals with high functionality and the upgrading iteration of the industry chain hardware and software, the consumer electronics industry has entered a new growth cycle, thereby promoting the increase in the usage of MLCC and its production raw material, small particle nickel powder.

Boqian New Materials also stated in its semi-annual report that the demand for downstream consumer electronic markets continues to recover, and the sales volume of nickel powder and copper powder used for MLCC has increased significantly compared to the same period last year. In addition to the growth in downstream customers' demand for high-end MLCC with small particle nickel powder, the company's sales product structure has also improved. At present, the company's new small particle nickel powder related products for high-end electronic paste have been successfully integrated into the supply chain system of major overseas customers and have achieved mass sales.

Driven by the recovery of downstream demand, journalists have noticed that the performance of Boqian New Materials has shown continuous growth momentum.

According to the data, in the first quarter of this year, Jiangsu Boqian New Materials achieved a revenue of approximately 0.2 billion yuan, an increase of 60.33% year-on-year; net income attributable to the mother was approximately 0.016 billion yuan, an increase of 764.9% year-on-year; Based on this, Jiangsu Boqian New Materials achieved a revenue of 0.238 billion yuan in the second quarter, a year-on-year increase of 50.58%, and a net profit attributable to the mother of 0.039 billion yuan, an increase of 158.94% year-on-year. The company's gross margin in the second quarter was 24.49%, an increase of 12.35 and 5.7 percentage points compared to the same period last year and the first quarter of this year, respectively.

Some industry insiders told Caixin that with the arrival of the traditional peak season for consumer electronics in the second half of the year and the growth of shipments of MLCC and high-end MLCC use small particle size nickel powder, the demand is expected to increase, thereby driving the continued recovery of related companies' performance.