BOE Varitronix ( (HK:0710) ) has issued an update.
BOE Varitronix Limited reported a 25% increase in revenue for the year ending 2024, reaching HK$13,449 million, primarily due to the growth in sales of TFT products and automotive system products. However, the company’s profit attributable to shareholders decreased by 18% to HK$391.3 million, impacted by changes in product mix, increased costs, and reduced government grants. Despite these challenges, the company maintained strong cash resources and reduced its bank loans by 39%, reflecting effective working capital management. The company is focused on reducing production and operating costs to improve profitability amidst geopolitical and market challenges.
More about BOE Varitronix
BOE Varitronix Limited operates in the display technology industry, focusing on Thin Film Transistor (TFT) products, touch panel display modules, and automotive system products. The company is significantly involved in the automotive display sector, which constitutes a major portion of its revenue, driven by the growing demand for New Energy Vehicles (NEVs).
YTD Price Performance: -0.24%
Technical Sentiment Signal: Sell
Current Market Cap: $674M
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