"Innoscience" mid-term loss narrowed to 429 million yuan, gross profit turned positive

INNOSCIENCE (02577.HK) announced its interim results for the six months ending in June, with sales revenue of 553 million RMB, an increase of 43.4% year-on-year, mainly due to the continuous expansion of the gallium nitride application field and rapid growth in customer demand. The loss narrowed from 488 million RMB in the same period last year to 429 million RMB, with a loss per share of 0.49 RMB. No dividend was declared.

In the first half of the year, the gross profit margin was 6.8%, compared to -21.6% in the same period last year, an improvement of 284 basis points, mainly benefiting from increased revenue, the release of production scale effects, and continuous optimization of production processes to reduce costs; achieving a positive gross profit of 37.85 million RMB.

The company has engaged in strategic cooperation with several traditional power chip manufacturers in Europe and the United States, as well as leading AI data center companies, to promote the large-scale application of gallium nitride chip solutions in consumer electronics, automotive electronics, and AI data centers. During the period, overseas business revenue was 63.7 million RMB, an increase of 57.8%, accounting for 11.5% of total revenue