AAC Technologies' Revenue in 2024 is Expected to Increase by 10-15%, PSS Automotive Business Revenue will Exceed RMB3 Billion [Yahoo! Finance]
AAC TECHS HLDGS UNSP/ADR (AACAY)
NASDAQ:AMEX Investor Relations:
aactechnologies.com/investor-relations
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Source: Yahoo! Finance
In 2023, the Group recorded a revenue of RMB20.42 billion , with a gross profit margin of 16.9% and a net profit of RMB0.74 billion . The revenue for the second half of 2023 ( "2H 2023" ) was RMB11.20 billion , with a gross profit margin of 19.2% and a net profit of RMB590 million , up 25.2% year-on year ( "YoY" Ms. Guo Dan , CFO of AAC Technologies , stated at the conference that the demand for mid-to-high-end smartphones led a recovery trend in 2H 2023, leading to a turning point in AAC Technologies' performance. It is expected that the business performance in areas such as acoustics, optics, and precision mechanics will continue to improve in 2024. The overall revenue is expected to increase by 10% to 15% in 2024, and the comprehensive gross profit margin will also recover to over 20%. Furthermore, the Group's automotive business is set to make significant progress. According to Ms. Guo, after the completion of the first delivery in February, the acquired Premium Sound Solutio
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