Omat Advanced Materials (688530.SH) reported a net profit of 27.5 million yuan in 2024, a year-on-year decrease of 44.27%.

Omat Advanced Materials (688530.SH) disclosed its 2024 interim performance report, with the company achieving operating income of 437 million yuan, a year-on-year decrease of 8.29%; total profit of 27.8162 million yuan, a year-on-year decrease of 48.54%; net profit attributable to owners of the parent company of 27.5004 million yuan, a year-on-year decrease of 44.27%. Basic earnings per share were 0.19 yuan. The announcement indicated that the decrease in net profit for the period was mainly due to a decrease in sales of products and waste materials; at the same time, incidental expenses such as listing intermediary fees and entertainment expenses increased for the company this year; the investment projects "High-end sputtering target material production base project (Phase I)" began production, and "High-purity oxygen-free copper production base construction project" accelerated construction, resulting in increased operating costs such as asset depreciation and personnel expenses.