Qianzhao Optoelectronics’ net profit is expected to increase by 175%-251% in 2024, and its product structure transformation has achieved initial results.

Qianzhao Optoelectronics released its 2024 performance forecast on the evening of January 20. It is expected to achieve a net profit attributable to the parent company of 87 million yuan to 111 million yuan in 2024, a year-on-year increase of 175.25%-251.18%; deducting non-net profit of 42 million yuan to 62 million yuan, a loss of 27.6174 million yuan in the same period last year.

The company stated that the main factors affecting performance changes in 2024 are: 1. The company is committed to transforming its product structure and developing a second growth curve, and the revenue share of mid- and high-end products continues to increase; 2. The company actively promotes management changes and lean management, improves operating efficiency, and increases production capacity dilutes fixed costs, resulting in a year-on-year increase in gross profit margin. At the same time, the decline in single-chip costs corresponds to a decrease in accrued inventory depreciation.

Qianzhao Optoelectronics is mainly engaged in the research and development, production and sales of full-color ultra-high brightness LED epitaxial wafers, chips, Mini-LED/Micro-LED and other compound semiconductor devices. The product performance ranks at the internationally advanced level. At present, the company has more than 190,000 square meters of modern clean factories and tens of thousands of internationally advanced epitaxial growth and chip manufacturing equipment. Relying on its leading advantages in comprehensive performance such as uniformity, consistency, and reliability, the company's quaternary epitaxial wafers and chips are at the domestic leading level in terms of quality and production and sales, and are widely used in digital, dot matrix, display screens, traffic lights and other fields.