Thanks to the expansion of revenue scale and the improvement of gross margin, Wei Er's share of net profit in the first half of the year soared nearly eight times, with its main business achieving significant growth in the fields of smart phones and automotive electronics.

On Monday, August 19, Wei Er, the chip leader with a market value of over 100 billion, announced its semi-annual performance report for 2024.

1) Main financial data

Revenue: In the first half of the year, the company's revenue was 12.091 billion yuan, a year-on-year increase of 36.5%.

Profit: In the first half of the year, the net profit attributable to the shareholders of the parent company was 1.367 billion yuan, a year-on-year increase of 792.79%. The net profit after deducting non-recurring gains and losses was 1.372 billion yuan, a significant year-on-year increase of 1837.73%. The report stated that the profit increase mainly came from the increase in operating income and the improvement in gross margin.

R&D expenses: In the first half of the year, the company's R&D expenses increased by 33.84% year-on-year to 1.255 billion yuan, mainly due to the increase in employee compensation and share-based payment expenses during the reporting period.

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2) Main business revenue data

Image sensor solutions: In the first half of the year, sales revenue was 9.312 billion yuan, accounting for 77.15% of the main business income, an increase of 49.9% compared to the same period last year.

Display solutions: In the first half of the year, sales revenue was 472 million yuan, a year-on-year decrease of 28.57%, accounting for 3.91% of the main business income, mainly affected by the industry's supply and demand relationship.

Analog solutions: In the first half of the year, sales revenue was 634 million yuan, a year-on-year increase of 24.67%, accounting for 5.25% of the main business income, with a good performance in the automotive analog chip field.In the first half of 2024, Whirlpool Corporation's net profit surged year-on-year, with reports attributing this primarily to two factors:

(1) As the consumer market continued to recover, downstream customer demand increased, and with the company's product penetration in the high-end smartphone market and the ongoing infiltration of its applications in the automotive market for autonomous driving, the company's operating income achieved significant growth;

(2) At the same time, influenced by factors such as product structure optimization and cost control, the company's product gross margin gradually recovered, with the comprehensive gross margin for the reporting period at 29.14%, an increase of 8.21 percentage points year-on-year.

The financial report also showed that Whirlpool Corporation's main business achieved revenue of 12.07 billion yuan in the first half of the year, a year-on-year increase of 36.64%.

Among them, the semiconductor design and sales business achieved revenue of 10.418 billion yuan, accounting for 86.31% of the main business revenue, an increase of 41.14% compared to the same period last year; the semiconductor agency sales business achieved revenue of 1.633 billion yuan, accounting for 13.53% of the company's main business revenue, an increase of 13.4% compared to the same period last year.

Among the company's three main businesses, the image sensor solution business performed strongly, mainly due to a significant increase in revenue scale in the smartphone and automotive electronics markets.

Specifically, in the field of smartphone applications, the company's 50-megapixel series main camera products with different pixel sizes achieved a significant increase in market share. During the reporting period, the company's image sensor business revenue from the smartphone market was approximately 4.868 billion yuan, an increase of 78.51% compared to the same period last year.

Secondly, in the field of automotive electronics, Whirlpool Corporation's CIS solutions cover automotive applications including ADAS, in-cabin monitoring, electronic rearview mirrors, dashboard cameras, rearview, and panoramic imaging. During the reporting period, the company's image sensor business revenue from the automotive market was approximately 2.914 billion yuan, an increase of 53.06% compared to the same period last year.