Gelonghui, May 9丨Huahong Company (688347.SH) released its first quarter report. Operating revenue was 3.297 billion yuan, down 24.62% year on year, net profit of 220 million yuan, down 78.76% year on year, after deducting non-net profit of 209 million yuan, down 79.11% year on year, with basic earnings per share of 0.13 yuan. Guidance for the second quarter of 2024: The main business revenue is between US$470 million and US$50 billion; the gross margin of the main business is between 6% and 10%.
“Huahong Semiconductor's sales revenue for the first quarter of 2014 was US$460 million, in line with the guideline's expectations; the gross margin for the single quarter was 6.4%, slightly higher than the guideline.” “The overall semiconductor market boom has not escaped the slump, and due to seasonal and annual maintenance, the first quarter was a traditional low season for foundry companies, but Huahong Semiconductor's capacity utilization rate, sales revenue, and gross margin all increased month-on-month in the first quarter, confirming the overall improvement in market demand for the company's characteristic processes.”