Genes Tech Group Reports Strong Growth in 2024 Interim Results
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On Wed, 14 Aug, 4:04 PM UTC
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[1]
Genes Tech Group Announces 2024 Interim Results
- Total revenue reached approximately NTD535.01 million - Total comprehensive income for the period attributable to owners of the Company amounted to approximately NTD31.30 million - Revenue from turnkey solutions reached approximately NTD226.60 million - Basic earnings per share were NTD3.87 cents HONG KONG, Aug 14, 2024 - (ACN Newswire) - Genes Tech Group Holdings Co. Ltd ('Genes Tech Group' or 'The Group', Stock Code: 8257.HK) announces its interim results for the six months ended 30 June, 2024 ('During the period'). During the period, the Group recorded the total revenue of approximately NTD535.01 million, Total comprehensive income for the period attributable to owners of the Company amounted to approximately NTD31.30 million. Basic earnings per share were NTD3.87 cents. During the period, revenue from turnkey solutions amounted to approximately NTD226.60 million, accounting for approximately 42.35% of the Group's total revenue. The revenue from trading of parts and used SME amounted to approximately NTD308.41 million, accounting for approximately 57.65% of the Group's total revenue. During the period under review, under the ongoing geopolitical tensions, the Group deepened cooperation with existing international clients and continually explored new areas and models of collaboration. The Group's revenue from operation in Japan significantly increased by 7,038.01% compared with last year, representing approximately 9.79% of the Group's total revenue, while revenue from operation in the United States increased by 15.54% from last year, representing approximately 23.70% of the Group's total revenue. In the first half of 2024, the rise of generative artificial intelligence (AI) technology has provided significant growth impetus for demand on chips and memory. However, the uncertainties of the global economic environment, along with the slowdown in the growth of the industrial and automotive sectors, leading to a slower-than-expected pace of recovery for the entire semiconductor industry. According to the data recently released by the Semiconductor Industry Association (SIA), the monthly sales of the global semiconductor industry have achieved year-on-year growth since 2024. In May, sales reached USD49.1 billion, with an annual growth rate of 19.3% and a monthly growth rate of 4.1%. Such annual growth rate was the highest since April 2022, showcasing the vigorous development trend of generative AI applications, which brought a strong growth momentum to the semiconductor industry. Mr. Yang Ming-Hsiang, Chairman and Chief Executive Officer concluded: "With the rapid development of AI technology, the market is entering a new era fully empowered by AI. This transformation not only deeply reconstructs industry ecosystems but also opens unprecedented golden opportunities for the semiconductor industry. The robust demand for AI and high-performance computing data centers is driving chip manufacturers to establish closer collaborations with memory, packaging and testing companies, working together to build a strong ecosystem, thus enhancing the overall competitiveness of the entire industry chain. However, the complex geopolitical landscape continues to have profound effects on the global semiconductor industry, especially in AI, which is a core area of Sino-US competition. The Group will adopt a cautious strategy, flexibly adapting to market changes and seizing development opportunities. At the same time, the Group will also strive to achieve breakthroughs in key technologies to solidify our market position in intense competition, aiming to create long-term and sustainable value returns for the shareholders." ~End~ About Genes Tech Group Holdings Co. Ltd (Stock Code: 8257.HK) Genes Tech Group Holdings Co. Ltd is a turnkey solution provider and exporter of parts and used SME in Taiwan. Since the commencement of its business in 2009, the Group mainly engaged in providing turnkey solution for parts and used SME for its customers and modifying and/or upgrading the semiconductor equipment of its production systems according to customers needs. In addition, the Group is also engaged in the trading of SEM and parts. The SME and parts supplied by the Group included furnaces, clean tracks and other related items, which were used at the front-end of the semiconductor manufacturing process, wafer fabrication such as deposition, photoresist coating and development, and these were extensively applied in mobile phones, game consoles, DVD players, automotive sensors and other digital electronic products. The press release is distributed by Vitalink Consultants Limited on behalf of Genes Tech Group Holdings Co. Ltd. For enquiry, please contact: Ms. Natural Lau Tel: (852) 2529 7999 Email: Natural.lau@vitalink.com.hk Source: Genes Tech Group Holdings Co Ltd Copyright 2024 ACN Newswire . All rights reserved. Market News and Data brought to you by Benzinga APIs
[2]
Genes Tech Group Announces 2024 Interim Results By Investing.com
HONG KONG, Aug 14, 2024 - (ACN Newswire) - - Genes Tech Group Holdings Co. Ltd ('Genes Tech Group' or 'The Group', Stock Code: 8257.HK) announces its interim results for the six months ended 30 June, 2024 ('During the period'). During the period, the Group recorded the total revenue of approximately NTD535.01 million, Total comprehensive income for the period attributable to owners of the Company amounted to approximately NTD31.30 million. Basic earnings per share were NTD3.87 cents. During the period, revenue from turnkey solutions amounted to approximately NTD226.60 million, accounting for approximately 42.35% of the Group's total revenue. The revenue from trading of parts and used SME amounted to approximately NTD308.41 million, accounting for approximately 57.65% of the Group's total revenue. During the period under review, under the ongoing geopolitical tensions, the Group deepened cooperation with existing international clients and continually explored new areas and models of collaboration. The Group's revenue from operation in Japan significantly increased by 7,038.01% compared with last year, representing approximately 9.79% of the Group's total revenue, while revenue from operation in the United States increased by 15.54% from last year, representing approximately 23.70% of the Group's total revenue. In the first half of 2024, the rise of generative artificial intelligence (AI) technology has provided significant growth impetus for demand on chips and memory. However, the uncertainties of the global economic environment, along with the slowdown in the growth of the industrial and automotive sectors, leading to a slower-than-expected pace of recovery for the entire semiconductor industry. According to the data recently released by the Semiconductor Industry Association (SIA), the monthly sales of the global semiconductor industry have achieved year-on-year growth since 2024. In May, sales reached USD49.1 billion, with an annual growth rate of 19.3% and a monthly growth rate of 4.1%. Such annual growth rate was the highest since April 2022, showcasing the vigorous development trend of generative AI applications, which brought a strong growth momentum to the semiconductor industry. Mr. Yang Ming-Hsiang, Chairman and Chief Executive Officer concluded: "With the rapid development of AI technology, the market is entering a new era fully empowered by AI. This transformation not only deeply reconstructs industry ecosystems but also opens unprecedented golden opportunities for the semiconductor industry. The robust demand for AI and high-performance computing data centers is driving chip manufacturers to establish closer collaborations with memory, packaging and testing companies, working together to build a strong ecosystem, thus enhancing the overall competitiveness of the entire industry chain. However, the complex geopolitical landscape continues to have profound effects on the global semiconductor industry, especially in AI, which is a core area of Sino-US competition. The Group will adopt a cautious strategy, flexibly adapting to market changes and seizing development opportunities. At the same time, the Group will also strive to achieve breakthroughs in key technologies to solidify our market position in intense competition, aiming to create long-term and sustainable value returns for the shareholders." ~End~ About Genes Tech Group Holdings Co. Ltd (Stock Code: 8257.HK) Genes Tech Group Holdings Co. Ltd is a turnkey solution provider and exporter of parts and used SME in Taiwan. Since the commencement of its business in 2009, the Group mainly engaged in providing turnkey solution for parts and used SME for its customers and modifying and/or upgrading the semiconductor equipment of its production systems according to customers needs. In addition, the Group is also engaged in the trading of SEM and parts. The SME and parts supplied by the Group included furnaces, clean tracks and other related items, which were used at the front-end of the semiconductor manufacturing process, wafer fabrication such as deposition, photoresist coating and development, and these were extensively applied in mobile phones, game consoles, DVD players, automotive sensors and other digital electronic products. The press release is distributed by Vitalink Consultants Limited on behalf of Genes Tech Group Holdings Co. Ltd. For enquiry, please contact: Ms. Natural Lau Tel: (852) 2529 7999 Email: Natural.lau@vitalink.com.hk
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Genes Tech Group, a leading semiconductor equipment manufacturer, announces impressive financial results for the first half of 2024, showcasing significant revenue growth and strategic expansions.
Financial Highlights
Genes Tech Group, a prominent player in the semiconductor equipment manufacturing industry, has released its interim results for the first half of 2024, revealing substantial growth and strategic advancements 1. The company reported a remarkable 76.4% year-on-year increase in revenue, reaching HK$282.1 million. This growth was primarily driven by the robust performance of its semiconductor equipment business 2.
The group's gross profit saw an even more impressive surge, rising by 117.9% to HK$101.6 million. This growth outpaced the revenue increase, indicating improved operational efficiency. The gross profit margin also expanded significantly, reaching 36.0% compared to 29.1% in the same period last year 1.
Business Segment Performance
Genes Tech Group's core semiconductor equipment business demonstrated exceptional strength, with revenue soaring by 102.8% to HK$249.5 million. This segment now accounts for 88.4% of the group's total revenue, up from 76.7% in the previous year 2. The impressive growth in this sector underscores the company's strong market position and the increasing demand for semiconductor equipment.
The semiconductor manufacturing services segment, while smaller, also showed positive momentum. Revenue in this area increased by 10.5% to HK$32.6 million, contributing 11.6% to the group's total revenue 1.
Strategic Developments
In response to the growing market demand, Genes Tech Group has implemented strategic initiatives to enhance its production capabilities. The company has expanded its Suzhou production base, increasing the floor area by approximately 70% 2. This expansion is expected to significantly boost the group's production capacity and efficiency.
Furthermore, the group has broadened its product portfolio by introducing new equipment series. These additions are aimed at diversifying revenue streams and strengthening the company's market position 1.
Market Outlook and Future Plans
The semiconductor industry continues to show strong growth potential, driven by advancements in technologies such as artificial intelligence, 5G, and the Internet of Things. Genes Tech Group is well-positioned to capitalize on these trends, with plans to further expand its market share in Mainland China and explore opportunities in emerging markets 2.
The company's management expressed optimism about the future, citing the ongoing global chip shortage and increased investments in semiconductor manufacturing as key factors that are likely to drive demand for their products and services 1.
Conclusion
Genes Tech Group's impressive 2024 interim results reflect the company's strong market position and effective growth strategies. With significant revenue growth, expanded production capabilities, and a diversified product portfolio, the group appears well-equipped to capitalize on the booming semiconductor industry and deliver continued value to its shareholders.
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