Q Tech's net surges 240pc

Chinese camera module manufacturer Q Technology's (1478) 2024 net profit surged 240 percent to 279 million yuan (HK$299.6 million) from the previous year, on surging camera module sales.

A final dividend of 10 HK cents was declared, compared to no dividend the previous year.

Revenue rose 28.9 percent to 16.15 billion yuan on increasing demand for camera modules for smartphones, smart cars, smart home devices and low-altitude aircraft.

Sales volume of camera modules rose 16.2 percent year-on-year while sales volume of fingerprint recognition modules rose by 46 percent.

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

Gross profit rose 93.6 percent to 985 million yuan while the gross profit margin stood at 6.1 percent, up 2 percentage points.

The company 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 of total sales for mobile phones, from 2024's 50.1 percent.

Earnings per share came in at 23.6 fen. Shares of Q Tech ended 2 percent higher at HK$7.63 in Hong Kong yesterday.

Cici Cao