TapTechNews reports on May 11th that Phison disclosed its consolidated financial statements for the first quarter of 2024 and its revenue announcement for April, showing significant recovery and growth compared to the market's previous downturn.
Key financial data for Q1 2024 are as follows:
Total revenue reached NT$16.526 billion (approximately RMB 3.685 billion), up 4.9% from the previous quarter and 64% year-over-year;
Gross margin was 33.9%, a decrease of 2.1% from the previous quarter but an increase of 2.1% year-over-year;
Net income stood at NT$2.42 billion (approximately RMB 540 million), up 16.1% from the previous quarter and a staggering 899.5% year-over-year.
In April, Phison achieved a total revenue of NT$5.156 billion (TapTechNews Note: approximately RMB 1.15 billion), marking a 53% increase year-over-year; From January to April, cumulative revenue was NT$21.582 billion, up 61% year-over-year, ranking as the second highest for the same period in history.
From January to April, Phison's bit shipment volume grew by 63% year-over-year, setting a new record.
Phison stated that NAND flash manufacturers returned to profitability in the first quarter. If NAND flash prices stabilize, the market should maintain a healthy supply-demand balance. Conversely, if NAND prices rise sharply in the short term, it may suppress end-user demand for NAND storage capacity, potentially leading to market bubbles.