Goodix Technology's 2024 H1 Forecast Revenue Growth, Turnaround to Profit

TapTechNews July 9th news, Shenzhen Goodix Technology Co., Ltd. released a performance forecast, expecting to achieve an operating income of about 2.26 billion yuan in the first half of 2024, an increase of about 11.8% year-on-year, and a net profit of about 317 million yuan (TapTechNews note: a loss of 136 million yuan in the same period of the previous year), achieving a turnaround from loss to profit year-on-year.

Goodix Technology expects to achieve a net profit attributable to the owners of the parent company after deducting non-recurring损益 of about 274 million yuan in the first half of 2024, an increase of about 439 million yuan compared with the same period of the previous year (-165 million yuan).

During the reporting period, benefiting from the growth of terminal customer demand, the company's shipments and operating income achieved year-on-year growth. Coupled with the company's product iteration and the decline in wafer costs, the product cost was optimized, and the gross profit margin gradually recovered.

Goodix Technology stated that in the first half of 2023, due to the relatively large amount of inventory in the overall 2022 and the impact of terminating the R & D of the TWS project in the second quarter of 2023, a large amount of asset impairment provisions were accrued, but there was no large amount of asset impairment in the first half of this year. In addition, the company continued to control R & D expenses, sales expenses, and management expenses, and it is expected to achieve a year-on-year decline.