Preface
Goodix Technology Co., Ltd. (stock code: 603160) disclosed its 2024 Q1 Report on April 26. According to the report, Goodix Technology achieved total revenue of 1.218 billion yuan in the first quarter of 2024, a year-on-year increase of 44.38%, and a net profit attributable to the parent company of 162 million yuan, a year-on-year increase of 216.97%, with basic earnings per share of 0.35 yuan per share.
Goodix's good news:
1. Goodix Technology Attended the 2024 Asia Automotive Audio Conference and Delivered a Speech - I Love Audio
2. Defining a New Benchmark for Mobile Audio Goodix Technology Launches a New Generation of Smart Audio Amplifier - I Love Audio
3. Providing leading semiconductor software and hardware solutions, Goodix Technology has been adopted by 12 products from 10 major brands丨2023 Annual Summary - I Love Audio
4. Excellent RF performance and stable signal, Goodix's Bluetooth Low Energy SoC is applied to Smart tag wireless locator - I love Audio
5. With the outbreak of the search market, Goodix's Bluetooth Low Energy chip empowers the "Find My" search function - I love audio
6. Goodix's @2023NVH&AS: Automotive Audio Solution, Empowering the Future Driving Experience - I Love Audio
7. Goodix's GH611 chip helps SHOKZ OpenFit Bluetooth headset to achieve rich human-computer interaction functions - I love audio
8. Goodix's GH611 chip helps SHOKZ OpenFit Bluetooth headset to achieve rich human-computer interaction functions - I love audio
9. GOODiX Goodix GH3020 Health Monitoring IC Helps HONOR Band 7 Achieve Heart Rate and Blood Oxygen Monitoring Functions - I Love Audio
10. Goodix's GH6212 sensor helps vivo TWS 3 Pro true wireless earbuds consolidate the interactive control experience - I love audio
Revenue and net profit for each quarter of the calendar year
From 2021 to 2024, Goodix's total operating income in the first quarter was RMB1.419 billion, RMB874 million, RMB844 million, and RMB1.218 billion, respectively. The year-on-year growth in the first quarter of 2021-2024 will be 5.07%, -38.39%, -3.47% and 44.38% respectively.
Goodix's total revenue from 2021 to 2024Q1 is shown in the figure below. During this period, the peak of total revenue was in 2021Q4, with total revenue reaching 1.573 billion yuan. The lowest quarter in terms of revenue was 2022Q3 at 692 million yuan. In 2024Q1, the company achieved a total revenue of 1.218 billion yuan, a year-on-year increase of 44.38%.
From 2021 to 2024, Goodix's net profit attributable to the parent company in the first quarter was RMB157 million, RMB50.5119 million, RMB139 million and RMB162 million, respectively. The year-on-year growth in the first quarter of 2021-2024 will be -23.51%, -132.26%, -174.86% and 216.97% respectively.
From 2021 to 2024Q1, Goodix's net profit attributable to its parent company is shown in the figure below. During this period, the highest net profit attributable to the parent company was in 2021Q2, achieving 206.4 billion yuan, and the lowest net profit was in 2022Q4, at -648 million yuan. In 2024Q1, the company achieved a net profit attributable to the parent company of 162 million yuan, a year-on-year increase of 216.97%.
In 2024Q1, the company's total revenue and net profit increased year-on-year. In terms of expenses, the company incurred sales expenses of 47.5253 million yuan, management expenses of 50.7736 million yuan, research and development expenses of 252 million yuan, and financial expenses of -23.2035 million yuan in 2024Q1, a year-on-year increase of -36.67%, 3.70%, -18.21%, and -128.85%.
Profitability analysis
1. Gross profit margin of sales
From 2021 to 2024Q1, Goodix's sales gross profit margin was the highest quarter in 2021Q2, with the highest value of 49.53% and the lowest sales gross profit margin of 39.17%.
In 2024Q1, the company's gross sales margin was 40.38%, compared with 42.04% in the same period last year, and the main profitability remained stable; The net profit margin of sales was 13.33%, compared with -16.45% in the same period last year, and the company's operating efficiency turned into a profit.
2. Return on net assets
From 2021 to 2024Q1, Goodix's highest ROE was 2021Q2, with a peak of 2.97% and a minimum ROE of -7.92%.
The company's return on equity in 2024Q1 was 1.99%, compared with -1.80% in the same period last year, and the ability to return shareholders was restored during the reporting period.
I love the audio network summary
During the reporting period, Goodix's net profit turned into a profit, and its financial performance was positive. Goodix Technology has always adhered to the corporate mission of "Innovative Technology, Enriching Life", with a global vision and layout, gathering the world's top talents, firmly investing in R&D, and continuing to lead technological innovation in the fields of sensing, computing, connectivity, and security, driving the innovative application of intelligent connection of all things, and striving to grow into the world's leading comprehensive IC design company.
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