Nanya Technology Corp (TPE:2408)

Q2 2024 Nanya Technology Corp Earnings Call Transcript

Jul 10, 2024 / 07:00AM GMT

Release Date Price: NT$72.3 (-0.96%)

Transcript

Key Points

Positve

Nanya Technology Corp (TPE:2408) reported a 4.4% increase in net sales for Q2 2024 compared to Q1.
Gross profit turned positive at TWD287 million, a significant improvement from the previous quarter's gross loss.
Year-over-year revenue improved by 41.2%, indicating strong annual growth.
The company has a positive cash flow, with an end balance of TWD65.329 billion, up from TWD62.356 billion at the beginning of the quarter.
Nanya Technology Corp (TPE:2408) received partner certification from the Alliance for Water Stewardship and ranked in the top 5% in corporate governance by the Taiwan Stock Exchange.

Negative

The company reported a net income loss of TWD813 million for Q2 2024.
Operating income remained negative at TWD2.319 billion, despite some improvement from the previous quarter.
The company recognized TWD657 million in earthquake-related losses, significantly impacting financial results.
Bit shipment decreased by mid-single digits quarter-over-quarter, indicating a decline in volume.
The market outlook remains uncertain due to unfavorable geopolitical issues and regional economic challenges, which could impact future demand.

Operator

Welcome to Nanya Technology of 2024 second-quarter earnings conference call. (Operator Instructions) Today's conference will be approximately 60 minutes with Nanya Technology's President, Dr. Pei-Ing Lee will summarize our operations in the second quarter of 2024, followed by our guidance for the next quarter and key messages, and then Nanya Technology's Vice President, Mr. Joseph Wu, Financial Director, Mr. Philip Jao, will join us as we open our Q&A session. Today's presentation materials are available for download at Nanya Technology's website at www.nanya.com.

As usual, we would like to remind everyone that today's discussion may contain forward-looking statements that are subject to significant risk and uncertainty, which could cause the actual results to differ materially from those contained in the forward-looking statements. Please refer to the safe harbor notice that appears in our presentation materials.

Now, I would like to turn the call over to Nanya Technology's President, Dr. Pei-Ing Lee, for the summary of

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