Forehope Electronic (688362.SH) has announced its expected profit forecast, with a projected net profit of 55 to 75 million yuan in 2024, turning losses into gains.

Forehope Electronic (688362.SH) released its annual performance forecast for 2024, expecting to achieve a revenue of 3.5 billion to 3.7 billion yuan for the year, representing an increase of 46.39% to 54.76% compared to the previous year (legally disclosed data). It is expected that the net profit attributable to the company's owner for 2024 will turn around from a loss to a profit, with a range of 55 million to 75 million yuan. The net profit attributable to the company's owner after deducting non-recurring gains and losses for 2024 is estimated to be -30 million to -20 million yuan. During the reporting period, the global semiconductor industry showed a mild recovery trend, with the overall prosperity of the integrated circuit industry on the rise. The recovery of downstream demand has increased the company's production capacity utilization rate. Thanks to the improved prosperity in the areas of some customers, successful expansion with new customers, and the ramp-up of production capacity for some new product lines, the company's revenue scale has grown rapidly. The company's product lines in wafer-level packaging and automotive electronics continue to expand, and the one-stop delivery capability of "Bumping+CP+FC+FT" formed in the second phase can effectively shorten the delivery time from wafer blank to finished chip for customers and improve quality control, continuously contributing to revenue. The company has built a core customer group around leading design companies in specific fields. As the first supplier for many SoC customers in China, the company has grown together with its customers. In addition to deepening cooperation with existing customer groups, efforts are being made to expand the customer base to include customers in China's Taiwan region, Europe, America, as well as in the HPC and automotive electronics sectors domestically, with some progress already made.