Q Tech profits surge, owing to strong demand for camera modules

Chinese camera module manufacturer Q Technology (1478) said its 2024 net profit surged 2.4 times to 279 million yuan (HK$299.6 million) from the previous year, owing to strong camera module sales to smartphones and intelligent cars.

The company declared a dividend of 10 HK cents.

Revenue rose 28.9 percent to 16.15 billion yuan, mainly due to increasing demand for camera modules amid strong development for industries including smartphones, smart cars, smart home devices and low-altitude aircraft.

Q Tech said that has resulted in a 16.2 percent year-on-year increase in its camera modules sales volume.

Meanwhile, the overall average sales unit price of camera module products climbed due to the company’s product structure optimizing strategy.

Gross profit amounted to 985 million yuan, marking a growth of 93.6 percent year-on-year, while the gross profit margin stood at 6.1 percent, up 2 percentage points.

The company aims to further improve its product mix in 2025.

It plans to raise the sales volume of camera modules for mobile phones with resolutions of 32-megapixels and above to no less than 55 percent from 2024’s 50.1 percent.

Shares of Q Tech once dipped as low as 1.7 percent in Hong Kong on Monday morning trading.

STAFF REPORTER