26 March 2025
On the back of the strong increase in demand for camera modules (CCM) (+28.2% YoY), the increase in ASP and increase in sales volume of fingerprint recognition modules (FPM) (+50.8% YoY), Q-Tech’s FY24 revenue amounted to Rmb16.2bn, representing a YoY increase of 28.9%. FY24 NP surged by 240.7% YoY to Rmb279.1m. GPM edged up 2.0ppt to 6.1% in FY24.
CROSBY Research – Q-Tech Group (1478 HK/ NEUTRAL): FY24 product mix continued to improve, expecting further enhancement