In terms of performance, during the reporting period, Xingfu Electronics' operating income was approximately RMB 529 million, RMB 792 million, RMB 878 million and RMB 512 million, respectively, and the corresponding net profits were approximately RMB 100 million, RMB 191 million, RMB 124 million and RMB 85 million, respectively, showing an overall growth trend.
As the integrated circuit market gradually recovers, the company's main business revenue continues to grow. At the same time, benefiting from the value-added tax additional deduction policy for integrated finland telegram data circuit enterprises, the company expects to achieve operating income of 1.01 billion yuan to 1.2 billion yuan in 2024, a year-on-year increase of 14.99% to 36.62%; it is expected to achieve net profit attributable to parent company shareholders after deducting non-recurring gains and losses of 145 million yuan to 162 million yuan, a year-on-year increase of 39.53% to 55.89%.
image source: prospectus
During the reporting period, Xingfu Electronics' overall gross profit margin was 27.46%, 31.50%, 27.72% and 28.14% respectively, with certain fluctuations. The company's overall gross profit margin declined in 2023 mainly due to production instability caused by the commissioning of new production lines, market price reductions, and new products being in the market development stage.