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Chang Wah Electromaterials (par value of NT$1 per Share) Reports Preliminary Financial Results for the Third Quarter of 2024
Issued by: Chang Wah Electromaterials Inc.
Issued on: October 31, 2024
Chang Wah Electromaterials (CWE, 8070.tw) announced its third-quarter operating results on the 31st. The Company posted consolidated revenue of NT$4,466 million for the quarter, with a gross margin of 22.6% and an operating margin of 13.0%. Net profit attributable to owners of the Corporation was NT$439 million, with after-tax earnings per share (EPS) for the third quarter reaching NT$0.63, based on a par value of NT$1 per share.
CWE reported a 5% quarter-over-quarter increase in consolidated revenue for the third quarter. Driven by higher revenue and product price adjustments, gross margin and operating margin rose to 22.6% and 13.0%, respectively. Net profit attributable to owners of the Corporation was NT$439 million, a 12% decrease from the previous quarter. The decline in profit was mainly due to a reduction in non-operating income, including foreign exchange losses.
Unit: NT$ Million
| Item/Period | Q3 2024 | Q2 2024 | Q3 2023 | QoQ | YoY |
|---|---|---|---|---|---|
| Consolidated revenue | 4,466 | 4,255 | 3,975 | 5% | 12% |
| Gross profit | 1009 | 879 | 710 | 15% | 42% |
| Profit from operations | 580 | 486 | 406 | 19% | 43% |
| Profit before income tax | 761 | 852 | 923 | -11% | -18% |
|
Net profit attributable to owners of the Corporation |
439 | 497 | 555 | -12% | -21% |
| After-tax EPS (NT$) | 0.63 | 0.74 | 0.82 | -15% | -23% |
| Gross margin | 22.6% | 20.7% | 17.9% | Up 1.9% | Up 4.7% |
| Operating margin | 13.0% | 11.4% | 10.2% | Up 1.6% | Up 2.8% |
| Pre-tax profit margin | 17.0% | 20.0% | 23.2% | Down 3% | Down 6.2% |
| Net profit margin | 14.8% | 16.9% | 19.6% | Down 2.1% | Down 4.8% |
Note 1: The after-tax EPS is calculated based on a par value of NT$1 per share.
Note 2: The preliminary financial figures for the third quarter of 2024 are subject to change pending auditor review.
【About Chang Wah Electromaterials】
CWE (8070.tw) specializes in the sales and technical services of semiconductor packaging materials and advanced packaging equipment, including lead frames, EME, silver paste, and IC substrates. The Company is also dedicated to strengthening its presence in the packaging materials market for key components of electric vehicle and automotive electronics. Furthermore, it partners with manufacturers to advance the IC substrate market for Micro LED and Mini LED packaging. Looking ahead, CWE will drive operational growth through its three primary business focuses: 3Cs (computer, communication, and consumer electronics), automotive, and industrial applications. Additionally, through strategic investments, the Company has expanded into the semiconductor front-end process materials, enabling CWE Group to build a comprehensive semiconductor material ecosystem and strengthen its influence within the industry. For more information, please visit the CWE official website: https://www.cwei.com.tw/